Kuala Lumpur, Malaysia – Preliminary September 2025 traffic figures released today by
the Association of Asia Pacific Airlines (AAPA) showed continued expansion in both
international air passenger and cargo markets. Resilient regional economic conditions,
underpinned by Asia Pacific GDP growth projected at 4.5%1 for the year, provided firm
support to overall traffic demand.

Buoyed by robust business and consumer activity, the region’s airlines recorded a 7.1%
year-on-year increase in the number of international passengers carried, reaching a
combined total of 30.9 million in September. Passenger demand, as measured in revenue
passenger kilometres (RPK), rose by 6.7% year-on-year, matching the expansion in
available seat capacity. As a result, the international passenger load factor averaged 80.7%
for the month, remaining elevated amid ongoing supply chain constraints.

Meanwhile, air cargo markets remained strong, supported by shifts in Asian cargo flows
following the implementation of U.S. tariffs. International air cargo demand, measured in
freight tonne kilometres (FTK), grew by 5.0% compared with the same month last year.
Offered freight capacity increased by 4.4% year-on-year, leading to a marginal 0.3
percentage point increase in the average international freight load factor to 60.8%.

Commenting on the results, Mr. Subhas Menon, AAPA Director General, said, “Despite
heightened trade tensions and the implementation of US tariffs, Asian economies have
remained resilient, aided by the front-loading of exports, ongoing regional supply-chain
realignments and firm domestic demand. Against this backdrop, Asia Pacific carriers
posted a solid 10% increase in international passengers to a total of 289 million for the first nine months of the year, alongside a 7% year-on-year growth in international air cargo
demand.”

Mr. Menon added, “The outlook for both international air passenger and air cargo markets remains positive. Asia Pacific carriers are well-placed to respond to demand growth, while navigating multiple challenges including supply chain constraints as well as rising operational costs.”

TRAFFIC UPDATE – PRELIMINARY

International Scheduled Services of Asia Pacific Airlines

International	Sep-25	Sep-24	% Change	Jan-Sep 2025	Jan-Sep 2024	% Change
Passengers (Thousand)	30,854	28,816	+ 7.1%	289,023	261,702	+ 10.4%
RPK (Million)	112,972	105,835	+ 6.7%		934,761	+ 11.7%
ASK (Million)	140,032	131,280	+ 6.7%		1,147,322	+ 10.9%
Passenger Load Factor	80.7%	80.6%		82.0%	81.5%	+ 0.5 pp
FTK (Million)	6,421	6,115		57,989	54 , 363	+ 6.7%
FATK (Million)	10,553	10,113	+ 4.4%	95,661	89,453
Freight Load Factor	60.8%	60.5%		60.6%	60.8%	– 0.2 pp

Effective September 2025, the dataset comprises aggregated traffic data from the following 36 Asia Pacific based carriers: 5J, 6E, 7C, 9C, Al, AK, 81, BR, CA, a, CK, CX, CZ, D7, GA, HO, HU, JL, JQ, KC, KE, KZ, MH, MU, NH, NZ, PG, PR,

QF, SG, SQ, TG, TR, VA and VN.

• Previous year data adjusted for comparison purposes

                                                    RPK = revenue passenger kilometres

1. ASK = available seat kilometres  FTK = freight tonne kilometres
2. FATK = available freight tonne kilometres
3. All figures, including estimates for missing data, are provisional
4. ^I IMF October 2025 Asia Pacific Regional Economic Outlook

Association of Asia Pacific Airlines (AAPA)

The AAPA is the trade association for scheduled international airlines based in the Asia Pacific region. The AAPA permanent secretariat is headquartered in Kuala Lumpur, Malaysia with international representation in Brussels and Washington, D.C. Collectively, the region’s airlines represent over onethird of global passenger and air cargo traffic, and thus play a leading role in the ongoing development of global aviation.

Source: Association of Asia Pacific Airlines (AAPA)