KUALA LUMPUR, Oct 21 — The global airline industry is experiencing a significant resurgence, with a projected year-on-year increase of 10.4 per cent in passenger traffic, Transport Minister Anthony Loke said.

In his keynote address at the 16th ICAO Air Services Negotiation (ICAN2024) event here, Loke said that many regions are surpassing pre-pandemic air traffic levels.

"Connectivity to the Asia-Pacific region, for example, is expected to be fully restored by the end of this year. We are anticipating to see a year-on-year increase of 10.4 per cent in total passenger numbers globally for 2024,” he said.

"Here in Malaysia, we have seen similar growth. Our aviation sector is set to experience four per cent growth in overall passenger movement, driven by fleet expansions and the return of foreign airlines,” Loke added.

He said that in August 2024, Malaysia recorded 8.7 million passengers, marking a strong 12.7 per cent increase from the previous year and that the Asia Pacific region will remain the International Civil Aviation Organisation’s (ICAO) fastest-growing air transport region through 2035.

"In terms of air cargo, we expect a 6 per cent to 6.6 per cent year-on-year growth for 2024, amounting to roughly 20 billion freight tonne kilometres,” Loke added.

He noted that this growth is propelled by key factors, including China’s resurgence, a revival in the global technology cycle, and a broader economic stabilisation.