For FY2022, the Malaysian Aviation Commission (Mavcom) forecasts a 316 percent to 525 percent year-on-year (y-o-y) increase in air passenger traffic, representing between 32.6 million and 49 million passengers, representing a 30-45 percent recovery from pre-pandemic levels in 2019.
In light of Malaysia’s rapid vaccination rollout, as well as the recent Vaccinated Travel Lane to Singapore, Mavcom executive chairman Datuk Seri Saripuddin Kasim is encouraged by the easing of travel restrictions, travel bubbles, and the reopening of international borders.
“These initiatives have allowed for tourism activities to restart with early indications pointing towards a positive outlook for Malaysia’s air passenger traffic in 2022,” he said in a statement.
Nonetheless, Saripuddin acknowledged the sector’s journey to full recovery is still far from over, as aviation players may still face significant challenges ahead with the rise in Brent crude oil and jet fuel prices that could impact operational costs, as well as possible new Covid-19 outbreaks including the fast-spreading Omicron variant.
“However, we remain hopeful that the industry will continue to make progress, particularly as the Malaysian government considers reopening mutual borders with several countries.”
Pent-up travel demand and accumulated savings are expected to drive passenger traffic growth in 2022, prompting airlines to gradually expand seat capacity.
According to Mavcom’s industry report Waypoint, the local aviation sector showed early signs of recovery in September and October 2021, as evidenced by 56.6 percent and 190.2 percent month-on-month (m-o-m) growth in air passenger traffic, respectively.
Air passenger traffic increased by 5.3 percent and 14.9 percent in the same months of 2019.
Total air passenger traffic in FY2021, according to the commission’s best-case scenario, is expected to be closer to 6.9 million to 7.8 million.
