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The Asia-Pacific Aviation Association said it expects air travel demand in the Asia-Pacific region to fully recover to pre-pandemic levels by 2024.
Director General Subhas Menon noted that Asia-Pacific airlines experienced a healthy increase in international passenger demand in 2023, but airlines still need to continue to focus on costs amid factors such as fierce competition, volatile oil prices and exchange rate fluctuations.
Preliminary reports show that the international passenger market in the Asia-Pacific region expanded steadily in November 2023, with the continued recovery of the tourism industry driving travel demand. Despite the increase in cargo traffic during the year-end holiday season, air cargo demand fell by 4.2% overall in the first 11 months of 2023 due to the economic downturn.
Menon said air cargo remains challenging due to uncertainty over export orders.
(Source: nst Image source: freepik)
