Asia Pacific airlines soar to record profit year
Association of Asia Pacific Airlines (AAPA) preliminary figures reveal Asia Pacific-based carriers in aggregate reported a record US$9.5 billion in net profits in 2010, a major turnaround from US$1.7 billion in net losses suffered in the previous year.
The strong results were underpinned by a resurgence of air travel and airfreight demand, and operating efficiencies including record high load factors.
International passenger traffic, measured in revenue passenger kilometres, grew by 9.6 percent in 2010.
Combined revenues for Asia Pacific carriers reached US$147 billion, 30 percent higher than the US$113 billion reported in 2009.
Passenger revenues rose by 26 percent to US$106 billion.
Operating expenses increased by 18 percent to US$134 billion, mainly due to a 28 percent increase in fuel expenses to US$43 billion, the single biggest cost item.
Andrew Herdman, AAPA director general, said the medium and long term prospects for Asia Pacific aviation were very positive despite the sharp increase in oil prices this year.
Meanwhile, the International Air Transport Association (IATA) announced scheduled international traffic results for March 2011 showing that year-on-year growth in passenger demand had slowed to 3.8 percent from the 5.8 percent recorded in February.
Ian Jarrett
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