Kuala Lumpur,5th January 2026:
Preliminary November 2025 traffic figures released by the Association of Asia Pacific Airlines (AAPA) showed continued strong growth in both international air passenger and cargo markets. Travel demand remained robust within the region and across key long-haul routes, while inventory restocking and increased e-commerce activity heading into the year-end festive season supported further expansion in air cargo demand.
Overall, the number of international passengers carried by Asia Pacific airlines increased by 8.3% year-on-year in November to a combined total of 32.9 million. Measured in revenue passenger kilometres (RPK), demand grew by 9.0% compared to the same month in 2024, outpacing the 8.0% expansion in available seat capacity. As a result, the average international passenger load factor rose by 0.8 percentage points to 83.2% for the month.
Reflecting increased export activity from Asian economies, particularly in South-East Asia and India, Asia Pacific carriers recorded a 6.2% year-on-year increase in international air cargo demand, as measured in freight tonne kilometres (FTK), in November. Offered freight capacity rose by 7.2% year-on-year, resulting in a marginal 0.6 percentage point decline in the average international freight load factor to 61.9% for the month.
Commenting on the results, Subhas Menon, AAPA Director General, said, “Continued robust growth in both leisure and business travel propelled passenger demand higher in November, contributing to a solid 10% increase in the number of international passengers carried for the first eleven months of the year, to a total of 355 million.”
“Meanwhile, Asian carriers benefitted from strong demand for the timely shipment of goods, consistent with past traffic trends for this time of the year. Overall, air cargo demand remained resilient over the year, rising by 5.6% year-on-year for the first eleven months of 2025, as supply chains increasingly shifted towards other economies in Asia.”
Looking ahead, Subhas Menon concluded, “The overall outlook is positive, with passenger demand expected to record further growth in 2026. Intensifying market competition is placing pressure on yields, while airlines continue to face cost pressures arising from persistent supply chain challenges. Although the decline in oil prices provides some relief, airlines remain vigilant in managing costs to maintain profitability.”
