In January 2026, Asian airlines demonstrated sustained growth in both international passenger and air cargo markets, according to preliminary figures from the Association of Asia Pacific Airlines (AAPA). The region’s airlines transported 35.5 million international passengers, a 3.6% increase year-on-year, aided by the Lunar New Year period last year. Demand, measured in revenue passenger kilometres, grew by 3.3%, while capacity increased by 4.6%, leading to a slight dip in load factor to 82.8%.
Air cargo also experienced a significant rise, with freight tonne kilometres increasing by 5.9%, amidst strengthening manufacturing activity and an uptick in export-related freight. The loaded freight capacity expanded marginally by 4.9%, resulting in an average freight load factor of 56.1%. Subhas Menon, the AAPA Director General, commented that the positive trend reflects expanding network connectivity and the robust demand for Asian-produced goods.
Outlook and Challenges
Looking ahead, Menon highlighted a broadly positive outlook supported by stable global economic conditions. However, he noted ongoing geopolitical tensions and high operating costs as challenges that airlines need to navigate carefully to sustain profitability.
The report underscores the resilience of Asian airlines amidst global economic uncertainties, and their role in facilitating trade and travel growth across the region.
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