STORY: Major Asian airlines have reported surging demand on European routes as travelers shun disrupted Middle Eastern hubs.
Hong Kong's Cathay Pacific Airways, Singapore Airlines, Korean Air Lines and Australia's Qantas Airways last week disclosed robust performances on European routes in March.
That's despite grappling with a doubling in the price of jet fuel as a result of the conflict.
Singapore Airlines said the percentage of seats filled on its European flights jumped to over 93% in March, up from around 80% a year earlier.
Korean Air reported a 47% operating income surge in its first-quarter estimated results, with European passenger revenue rising almost a fifth from last year.
Meanwhile, Qantas said it had adjusted its operations to capture the shift, redeploying capacity from U.S. and domestic routes.
And Cathay Pacific said the strong demand was expected to continue through April, fueled by Easter travel and increased long-haul bookings that transit in Hong Kong.
Before the conflict in the Middle East, Gulf carriers Emirates, Etihad and Qatar Airways accounted for about a third of Asia-Europe traffic, according to aviation data firm Cirium.
They also carried more than half of all passengers flying from Europe to Australia, New Zealand and Pacific Islands.
Though the trio have been restoring operations following the initial disruption, they are still far from operating at full capacity.
Bank of America analysts said that Asian carriers could see tight pricing and share gains on Asia-Europe routes persist for up to 12 months even after war ends.
