SINGAPORE, 7 May 2024: The International Air Transport Association (IATA) released its latest data this week, indicating global passenger demand measured in revenue passenger kilometres (RPKs) was up 13.8% during March 2024.
Total capacity, measured in available seat kilometres (ASK), was up 12.3% year-on-year. The March load factor was 82.0% (+1.0ppt compared to March 2023).
International demand rose 18.9% compared to March 2023; capacity was up 18.8% year-on-year, and the load factor improved to 81.6% (+0.1ppt on March 2023).
Domestic demand rose 6.6% compared to March 2023; capacity was up 3.4% year-on-year, and the load factor was 82.6% (+2.5ppt compared to March 2023).
“Travel demand is strong. And there is every indication that this should continue into the peak Northern Summer travel season. It is critical that we have the capacity to meet this demand and ensure a hassle-free travel experience for passengers. That means making urgent progress in resolving supply chain issues, fully staffing airports and air traffic management, and operating efficiently. While airlines are prepared for customer care and assistance when operational issues arise, they are fed-up with bearing the cost when delays and cancellations result from poor preparation in other parts of the value chain,” said IATA’s Director General Willie Walsh.
Regional Breakdown – International Passenger Markets
All regions showed strong growth for international passenger markets in March 2024 compared to March 2023. Load factor performance could have been better, falling year-on-year in three of the six regions.
Asia-Pacific airlines continue to lead the way, with a 38.5% year-on-year increase in demand. Capacity increased 37.4% year-on-year, and the load factor rose to 85.6% (+0.7ppt compared to March 2023), the highest of all regions. Major routes from Asia-Pacific display outstanding growth, although the number of scheduled air services from China to North America is only 16.5% of pre-pandemic levels.
European carriers saw an 11.6% year-on-year increase in demand. Capacity increased 11.4% year-on-year, and the load factor was 79.9% (up just 0.1ppt compared to March 2023).
Middle Eastern airlines saw a 10.8% year-on-year increase in demand. Capacity increased by 13.9% year-on-year, and the load factor fell by 2.1ppt to 77.5% compared to March 2023.
North American carriers saw a 14.5% year-on-year increase in demand. Capacity increased 14.8% year-on-year, and the load factor fell to 84.7% (-0.2ppt compared to March 2023).
Latin American airlines saw a 19.7% year-on-year increase in demand, an 18.3% increase in capacity, and a load factor of 84.3% (+0.9ppt compared to March 2023).
African airlines saw an 8.1% year-on-year increase in demand, and capacity was up 11% year-on-year. The load factor fell to 70.3% (-1.9ppt compared to March 2023).
