Preliminary traffic figures for November 2025 released today by the Association of Asia Pacific Airlines (AAPA) showed continued strong growth in international air passenger and cargo markets.
Travel demand remained robust within the region and across key long-haul routes. Meanwhile, inventory restocking and increased e-commerce activity ahead of the year-end festive season supported further expansion in air cargo demand.
The number of international passengers carried by Asia-Pacific airlines increased 8.3 percent percent year over year in November to 32.9 million. Measured in revenue passenger kilometers (RPK), demand grew 9 percent compared to the same month in 2024, outpacing the 8 percent expansion in available seat capacity. Consequently, the average international passenger load factor rose 0.8 percentage points to 83.2 percent.
Reflecting increased export activity from Asian economies, particularly in Southeast Asia and India, Asia-Pacific carriers recorded a 6.2 percent year-over-year increase in international air cargo demand, measured in freight tonne kilometers (FTK). Offered freight capacity rose 7.2 percent, resulting in a marginal 0.6 percentage point decline in the average international freight load factor to 61.9 percent for the month.
“Continued robust growth in both leisure and business travel propelled passenger demand higher in November,” said Subhas Menon, AAPA director general. “This contributed to a solid 10 percent increase in the number of international passengers carried for the first 11 months of the year, to a total of 355 million.”
Menon noted that Asian carriers benefited from strong demand for timely shipments, consistent with seasonal trends. Overall, air cargo demand rose 5.6 percent for the first 11 months of 2025 as supply chains increasingly shifted toward other economies in Asia.
Looking ahead, Menon remains positive, expecting further growth in 2026. However, he cautioned that intensifying competition is placing pressure on yields while airlines face persistent supply chain challenges. Although declining oil prices provide relief, airlines remain focused on cost management to maintain profitability.
