Asia Pacific airlines cheer strong recovery, increasing demand for luxury air travel
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With air passenger traffic at over 90 per cent of pre-pandemic levels, the airline industry has more than doubled its net profit forecast for this year.
Domestic travel has fully recovered, while international traffic is catching up, with carriers in the Asia Pacific region leading the recovery, data from the International Air Transport Association (IATA) showed.
Easing inflation and declining jet fuel prices suggest sustained strong air travel demand and moderating costs, said the association, which represents some 300 airlines.
CNA spoke to several airlines chiefs from Asia Pacific at IATA's three-day annual summit in Istanbul this week.
They said the demand for air travel remains strong and profitability outlook is robust, but cautioned that delays in getting planes could dampen recovery and keep ticket prices high.
Premium air travel is also increasingly popular, with several airlines scrambling to fill the gap in the market with more luxurious offerings.
