Asian carriers benefited from more passengers, higher fares on European flights during conflict
A plane flies above Don Mueang Airport, Bangkok. (Bangkok Post file photo)
HONG KONG/SYDNEY — Asian airlines that gained passengers and charged higher fares on European routes after the start of the Iran conflict are seeing those advantages erode as Gulf carriers restore flights and offer lower ticket prices, industry data shows.The shift has been gradual, but it is raising doubts over whether carriers including Singapore Airlines, Cathay Pacific Airways, Korean Air Lines and ANA Holdings can retain much of the market share they gained during the disruption.
"It is clear that we have passed the peak of the load factor gains for the Asian carriers," said Nathan Gee, head of Asia-Pacific transportation research at BofA Global Research, referring to an industry term for the percentage of seats filled. "But long-haul bookings tend to be on a six-month window, suggesting the strongest contribution to flown revenues will be seen in the upcoming quarters."
Emirates, Qatar Airways and Etihad Airways carried nearly one-third of passengers from Asia to Europe and more than half of those from Australia and New Zealand to Europe before the conflict, according to Cirium data.
