Airlines Looking To Asia To Drive Profits In 2024

Airlines anticipate the East to be their next significant revenue generator.

Asia is anticipated by carriers to be the next destination of choice for satisfying travel demand. There is optimism that increasing the number of flights to Asia-Pacific will result in greater profits for airlines in 2024.

The Global Business Travel Association projects that Asia-Pacific travel will increase by 41 percent to $567 billion this year, with a potential increase to $800 billion by 2027. This includes air travel on Air Canada and domestic airlines within the United States.

An example of an airline striving for the title of the first U.S.-based carrier to operate a direct continuous route from New York to Tokyo is American Airlines.

Flights to Asia are anticipated to increase by 79 percent in the initial quarter of 2024 in comparison to the previous complete year preceding the pandemic, which was 2019. 

The growth rates of seven percent or eight percent or nine percent for the industry are just not going to be possible, but growing overseas, we think there's just a lot more opportunity.

Delta Air Lines has announced that capacity to Asia will increase by as much as 50 percent between now and December 2024. Additionally, United Airlines stated that it intends to increase capacity to Asia. 

 Flights to New Zealand and the Philippines are included. Air Canada stated that the capacity expansion to Asia in 2024 would nearly double the company's system growth.

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