The Association of Asia Pacific Airlines has unveiled preliminary financial data for the region’s airlines, showing US$6.9 billion in combined net earnings in 2015.
This compares with a net loss of US$1.2 billion in 2014.
The turnaround is attributed to much lower fuel costs and a record high load factor of 78.4% for the year.
Overall Asia Pacific airlines had operating revenues of US$166.9 billion which is down more than 5% on 2014.
Despite the fall in yield, operating costs were down 12.6%.
AAPA said Asia Pacific airlines posted an 8.3% increase in international passenger traffic based on on a revenue passenger kilometre basis.
"Asia Pacific carriers saw a welcome return to profitability in 2015, after suffering aggregate losses in the previous year. The region’s carriers registered a significant operating margin of 8.3%, compared with the 1.0% margin achieved in 2014," said AAPA director general Andrew Herdman.
"Overall, Asian airlines benefitted from strong passenger demand and the significant fall in oil prices, although the financial impact on individual carriers would also depend on currency volatility and variations in individual fuel hedging policies, amongst other factors."
"Asian carriers are encouraged by the sustained growth in passenger demand, but continue to face a challenging operating environment characterized by intense competition, cost pressures and volatile currency markets," he added.
