Malaysia set to soar as foreign airlines rejoin the skies

Malaysia’s aviation industry is poised for a 4% increase in overall passenger movement, according to Transport Minister Anthony Loke Siew Fook. He said the expansion of airline fleets and the return of foreign carriers are fuelling growth. “Malaysia recorded a strong 12.7% growth in passenger numbers in August compared to the same period last year, reaching 8.7m passengers,” he said. Loke added that this growth aligns with global trends, where many regions have exceeded pre-pandemic air traffic levels. “By the end of this year, we expect connectivity to the Asia-Pacific region to be fully restored. “Looking ahead, we anticipate a 10.4% year-on-year increase in global passenger numbers for 2024,” said Loke. He also said that global demand for air travel will rise by an average of 4.3% annually over the next two decades. “This increase will generate 15.5m direct jobs and contribute US$1.5t to the global GDP by 2036,” he said. Loke said the air cargo sector expects year-on-year growth of 6% to 6.6% in 2024, totalling around 20b freight tonne-kilometres. “This growth is driven by factors such as China’s recovery, the upturn in the global technology cycle and economic stabilisation,” he said.<br/>