The International
Air Transport Association (IATA) unveiled statistics detailing global
passenger demand for March 2024, pointing out the following key highlights:
Overall demand,
quantified by revenue passenger kilometers (RPKs), surged by 13.8 percent
compared to March 2023. Concurrently, total capacity, gauged by available seat
kilometers (ASK), experienced a year-on-year increase of 12.3 percent. The load
factor for March 2024 reached 82 percent, marking a one percentage point uptick
from the same month last year.
On the
international front, demand soared by 18.9 percent in comparison to March 2023,
with capacity rising by 18.8 percent year-on-year. The load factor also saw an
improvement, reaching 81.6 percent, up by 0.1 percentage points from March
2023.
Meanwhile,
domestic demand registered a 6.6 percent upturn compared to March 2023, with
capacity increasing by 3.4 percent year-over-year. At the same time, the
domestic load factor surged to 82.6 percent, marking a notable 2.5 percentage
point increase from March 2023.
“Demand for travel
is strong. And there is every indication that this should continue into the
peak Northern Summer travel season,” said Willie Walsh, IATA’s Director General.
“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
to resolve supply chain issues, and for airports and air traffic management to
be fully staffed and operating at maximum efficiency. While airlines are
prepared for customer care and assistance when operational issues arise, they
are fed-up of bearing the cost when delays and cancellations are the result of
poor preparation in other parts of the value chain.”
Regional
Breakdown - International Passenger Markets
In March 2024, all
regions exhibited robust expansion in international passenger markets
compared to March 2023. However, there were fluctuations in load factor
performance, with three out of six regions reporting year-on-year declines.
Leading the
charge, Asia-Pacific airlines demonstrated substantial growth, boasting
a 38.5 percent increase in demand compared to the previous year. Capacity also
surged by 37.4 percent year-on-year, resulting in a noteworthy load factor of
85.6 percent, marking a 0.7 percentage point increase since March 2023—the
highest among all global regions. Notably, major routes from Asia-Pacific
exhibited remarkable growth, although scheduled air services from China to
North America remained at only 16.5 percent of pre-pandemic levels.
European
carriers experienced an
11.6 percent year-on-year uptick in demand, accompanied by an 11.4 percent
increase in capacity. Despite this growth, the load factor marginally improved
to 79.9 percent, rising by just 0.1 percentage points compared to March 2023.
In contrast, Middle
Eastern airlines observed 10.8 percent year-on-year growth in demand,
coupled with a 13.9 percent increase in capacity. However, the load factor
experienced a decline, dropping by 2.1 percentage points to 77.5 percent
compared to March 2023.
North American
carriers witnessed a 14.5
percent increase in demand year-on-year, alongside a 14.8 percent rise in
capacity. Despite the growth, the load factor dipped to 84.7 percent, a
decrease of 0.2 percentage points from March 2023.
Latin American
airlines enjoyed a
substantial 19.7 percent year-on-year surge in demand, with capacity climbing
by 18.3 percent. The load factor improved to 84.3 percent, up by 0.9 percentage
points compared to March 2023.
Meanwhile, African
airlines experienced an 8.1 percent increase in demand year-on-year,
accompanied by an 11.0 percent rise in capacity. However, the load factor
decreased to 70.3 percent, dropping by 1.9 percentage points compared to March
2023.
| MARCH 2024 (% YEAR-ON-YEAR) | WORLD SHARE1 | RPK | ASK | PLF(%-PT)2 | PLF(LEVEL)3 |
| Total Market | 100% | 13.8% | 12.3% | 1.0% | 82.0% |
|
Africa |
2.1% |
10.0% |
12.3% |
-1.5% |
72.1% |
|
Asia Pacific |
31.7% |
24.2% |
17.9% |
4.3% |
83.5% |
|
Europe |
27.1% |
10.6% |
10.2% |
0.3% |
80.9% |
|
Latin America |
5.5% |
10.9% |
8.8% |
1.5% |
83.1% |
|
Middle East |
9.4% |
10.5% |
13.6% |
-2.1% |
77.5% |
|
North America |
24.2% |
6.3% |
7.6% |
-1.0% |
83.7% |
1) % of industry
RPKs in 2023 2) Year-on-year change in load factor 3)
Load Factor Level
Domestic
Passenger Markets
In March, domestic
demand exhibited a slower rate of growth, returning to a typical pre-pandemic pace.
China remained the leading market with a 17.6 percent increase compared to
March 2023. Other markets demonstrated steady growth, except for Australia,
where a decline may reflect the broader economic slowdown experienced in the
country in 2024’s first quarter.
| MARCH 2024 (% YEAR-ON-YEAR) | WORLD SHARE1 | RPK | ASK | PLF(%-PT)2 | PLF(LEVEL)3 |
| Domestic | 39.9% | 6.6% | 3.4% | 2.5% | 82.6% |
|
Domestic Australia |
0.8% |
1.8% |
3.9% |
-1.7% |
79.8% |
|
Domestic Brazil |
1.2% |
1.6% |
-0.1% |
1.3% |
79.9% |
|
Domestic China P.R. |
11.2% |
17.6% |
5.3% |
8.5% |
80.7% |
|
Domestic India |
1.8% |
3.8% |
3.5% |
0.2% |
85.8% |
|
Domestic Japan |
1.1% |
3.3% |
-1.7% |
4.0% |
82.5% |
|
Domestic US |
15.4% |
2.6% |
4.5% |
-1.5% |
82.9% |
1) % of industry
RPKs in 2023 2) year-on-year change in load factor 3)
Load Factor Level
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