Preliminary April 2025 traffic figures released by the Association of Asia Pacific Airlines (AAPA) revealed further growth in both international passenger and air cargo markets, despite softening global economic conditions and persistent trade frictions.
Asia Pacific airlines collectively carried 31.3 million international passengers in April, a 10.5% year-on-year increase. Demand, as measured in revenue passenger kilometres (RPK), rose by 12.6%, reflecting continued strength in long-haul travel. With available seat capacity expanding by 11.7% year-on-year, the international passenger load factor rose by 0.7 percentage points to an elevated 82.4% for the month.
While the global manufacturing sector faced increased challenges amid uncertainties over tariff disputes, air cargo demand in April was supported by the advance loading of shipments on selected routes and the rerouting of goods to alternative gateways. As a result, international air cargo demand, measured in freight tonne kilometres (FTK), grew by 4.9% year-on-year, slightly outpacing the 4.2% rise in offered freight capacity. Consequently, the international freight load factor edged 0.4 percentage points higher to 61.5% compared to the same month last year.
Commenting on the results, Subhas Menon, AAPA director general, said, “Asia Pacific airlines carried a total of 127 million international passengers in the first four months of 2025, representing a 12% increase compared to the same period last year. The sustained recovery in international tourist arrivals, bolstered by continued route network expansions, reflects the resilience of travel markets. The growth comes despite mounting macroeconomic headwinds, which contributed to a downward revision of the global GDP growth forecast to 2.8% for the year. Correspondingly, international air cargo demand recorded a 5% increase during the first four months of the year, even as consumers and businesses faced heightened uncertainty due to tariff disputes. This environment contributed to advance purchases and stockpiling activity in anticipation of potential cost increases.”
Looking ahead, Menon said, “The trade disputes and softening macroeconomic conditions may signal challenging times for air travel and cargo markets in the months ahead. This will place further strain on already thin profit margins in the airline industry. Overall, the region’s carriers remain vigilant, actively monitoring market developments and ready to adapt swiftly to evolving conditions.”
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