Association of Asia Pacific Airlines: Pax growth sustained, cargo weakness continued in Aug-2012

Association of Asia Pacific Airlines (AAPA) reported (27-Sep-2012) international passenger numbers on Asia Pacific airlines showed a sustained increase, in contrast to continued weakness in air freight markets. Asia Pacific airlines transported 18.5 million international passengers in Aug-2012, an increase of 6.8% year-on-year. International cargo traffic (FTKs) remained depressed, down 4.4%, as a result of weakening consumer confidence in the major developed economies leading to a corresponding slowdown in exports from Asia. Commenting on the results, AAPA director general Andrew Herdman said, "Whilst the overall pace of global economic activity is clearly slowing, Asian economies have so far remained relatively resilient with domestic demand still supporting business and leisure related travel." Mr Herdman, however, warned "notwithstanding the evident slowdown in the global economy, oil prices remain high, averaging USD112 per barrel so far this year, further pressuring airline margins and industry profitability". Details include:

• International passenger numbers: 18.5 million, +6.8% year-on-year;
• Passenger load factor: 80.3%, +1.4 ppts;
• Cargo traffic (FTKs): -4.4%;
• Cargo load factor: 64.6%, -0.1 ppt. [more - original PR]