New Delhi: India has seen the biggest boom international in airfare Asia PacificAccording to Airport Council International (ACI). ACI Asia-Pacific says its study is ongoing airfare Trends in the Region” examined nearly 36,000 routes in the top 10 aviation markets in Asia-Pacific and the Middle East, revealing an alarming increase in international airfares of up to 50%, while domestic routes grew by less than 10%. The markets that saw the most airfare growth include India (41%), UAE (34%), Singapore (30%) and Australia (23%).
“… In the first quarter of 2023, domestic airfares continued to rise in many of these markets, including India, Indonesia, Saudi Arabia, South Korea and Japan, with only modest decreases on international routes, despite a progressive increase in traffic, says ACI. India has seen the biggest improvement in air traffic post-Covid, with several international airlines Agitation Ind demand here.
“..several major international airlines recently announced record profits for the year 2022 financial year. However, airport operators have been reporting negative EBITDA margins for the last 10 consecutive quarters, especially in China, Japan, Thailand and India. The global body of airport operators conducted it in collaboration with Flair Aviation Consulting and “shows” airfares (globally) have risen above pre-pandemic levels as major airlines have grounded, hindering the recovery of the aviation industry. Record profits have been made.
While international airfares have skyrocketed globally since 2021 when travel resumed, recent weeks have seen domestic airfares in India also go through the roof following the collapse of GoFirst. While the 60-aircraft-strong Go stopped flying on May 2, around 40 of IndiGo’s aircraft have been grounded for several months due to Pratt & Whitney’s inability to supply replacement engines. Cash-strapped SpiceJet is operating below its approved schedule.
Expressing concern, the ACI said, “Airlines are seeking to capitalize on reduced competition and pent-up demand to increase profits and recover losses during the pandemic, while airports continue to provide enhanced services to passengers despite heavy operations and capital expenditure.” continue to provide.” have remained stable since the pandemic. Fuel prices and inflation are responsible for a significant portion of airfare growth. Fuel prices to increase by 76% in 2022 as compared to 2019. Airlines’ costs increased as the Consumer Price Index saw an average 10% increase over the same period.
Stefano Baronci, DG, ACI Asia Pacific, said: “These exorbitant airfares threaten the long-term recovery of the industry and could have a far-reaching impact on the associated industry, reducing demand for air travel and increasing the financial burden on an already stressed sector . Airlines should adopt fair pricing that supports recovery and protects the interests of consumers. The supply-demand imbalance should not be exploited by airlines by limiting capacity at the cost of customers, especially international ones that is a key driver of social and economic development and a major source of revenue for the airport sector. We urge airlines to carefully consider the long-term effects of their pricing decisions. Also, governments should consider policies such as open skies should consider liberalizing markets through air travel, which would allow competition while keeping air fares in check,’ Mr Baronci, who represents the Hong Kong-based ACI Asia-Pacific 132 airport members, represents 623 airports in 47 countries. Operates the bases. / Regions in the Asia-Pacific and the Middle East. Asia-Pacific is the largest civil aviation market in the world in terms of traffic volume.
“… In the first quarter of 2023, domestic airfares continued to rise in many of these markets, including India, Indonesia, Saudi Arabia, South Korea and Japan, with only modest decreases on international routes, despite a progressive increase in traffic, says ACI. India has seen the biggest improvement in air traffic post-Covid, with several international airlines Agitation Ind demand here.
“..several major international airlines recently announced record profits for the year 2022 financial year. However, airport operators have been reporting negative EBITDA margins for the last 10 consecutive quarters, especially in China, Japan, Thailand and India. The global body of airport operators conducted it in collaboration with Flair Aviation Consulting and “shows” airfares (globally) have risen above pre-pandemic levels as major airlines have grounded, hindering the recovery of the aviation industry. Record profits have been made.
While international airfares have skyrocketed globally since 2021 when travel resumed, recent weeks have seen domestic airfares in India also go through the roof following the collapse of GoFirst. While the 60-aircraft-strong Go stopped flying on May 2, around 40 of IndiGo’s aircraft have been grounded for several months due to Pratt & Whitney’s inability to supply replacement engines. Cash-strapped SpiceJet is operating below its approved schedule.
Expressing concern, the ACI said, “Airlines are seeking to capitalize on reduced competition and pent-up demand to increase profits and recover losses during the pandemic, while airports continue to provide enhanced services to passengers despite heavy operations and capital expenditure.” continue to provide.” have remained stable since the pandemic. Fuel prices and inflation are responsible for a significant portion of airfare growth. Fuel prices to increase by 76% in 2022 as compared to 2019. Airlines’ costs increased as the Consumer Price Index saw an average 10% increase over the same period.
Stefano Baronci, DG, ACI Asia Pacific, said: “These exorbitant airfares threaten the long-term recovery of the industry and could have a far-reaching impact on the associated industry, reducing demand for air travel and increasing the financial burden on an already stressed sector . Airlines should adopt fair pricing that supports recovery and protects the interests of consumers. The supply-demand imbalance should not be exploited by airlines by limiting capacity at the cost of customers, especially international ones that is a key driver of social and economic development and a major source of revenue for the airport sector. We urge airlines to carefully consider the long-term effects of their pricing decisions. Also, governments should consider policies such as open skies should consider liberalizing markets through air travel, which would allow competition while keeping air fares in check,’ Mr Baronci, who represents the Hong Kong-based ACI Asia-Pacific 132 airport members, represents 623 airports in 47 countries. Operates the bases. / Regions in the Asia-Pacific and the Middle East. Asia-Pacific is the largest civil aviation market in the world in terms of traffic volume.