Asia Pacific airlines face “a very rough rideâ€
KUALA LUMPUR – Members of the Association of Asia Pacific Airlines (AAPA) reported sharply lower passenger traffic volumes in September, as the industry felt the impact of the global economic slowdown.
AAPA international passenger numbers in September totaled 11million, a 6.6% decline compared to the same month last year.
Traffic measured in RPK terms fell by 5.1% on capacity growth of just 0.8%, resulting in a 4.5 percentage point deterioration in the average international passenger load factor, to 72.7%.
Andrew Herdman, AAPA director general said, “For the first nine months of the year, AAPA international passenger traffic, in RPK terms, grew by just 1.6%.
“Asia Pacific passenger traffic had been holding up relatively well, but the consequences of the global financial crisis are now being felt in the real economy, with rapidly weakening consumer confidence affecting markets across the world.
“Lower oil prices are certainly welcome, but will not compensate for the expected revenue shortfall.
“Airlines will continue to take all possible steps to stay afloat, including reviewing capacity adjustments and making sure that fares remain competitive to attract incremental business.
“Overall, however, we are braced for a very rough ride over the next few months as the global economic slowdown begins to bite hard.â€
Ian Jarrett
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