Airfares in Asia-Pacific and Middle East surged as nations emerged from pandemic-related restrictions, according to the Airports Council International (ACI) Asia-Pacific’s latest Airport Industry Outlook. The increase in airfares were significantly above the global average with airline yields (revenue per RPK) that were 29% higher in 2022 than in 2019 in nominal terms. Airfares have increased across sector distances and the different markets served in the APAC-ME region. Across these busiest routes in 2022, the number of passengers was down 66% and the average airfare was up 77%. Jet fuel was 41% cheaper in 2020 compared to the 2019 average price, but 79% higher in 2022 due to oil supply restrictions caused by Russian sanctions and increasing air travel demand.

Source: Ethiopian News March 29, 2023 21:29 UTC