The International Air Transport Association (IATA) has released its latest data on global passenger demand, showing a significant increase of 10.7% in May 2024 compared to the same period last year.
The report highlights a strong demand for travel, with airlines experiencing a record high load factor of 83.4% in May.
According to the report, total demand measured in revenue passenger kilometers (RPKs) rose by 10.7% compared to May 2023, while total capacity measured in available seat kilometers (ASK) increased by 8.5% year-on-year.
International demand saw a significant increase of 14.6% compared to May 2023, with capacity up by 14.1% year-on-year and a load factor of 82.8%. Domestic demand also rose by 4.7% compared to May 2023, with capacity up by 0.1% year-on-year and a load factor of 84.5%.
IATA’s Director General, Willie Walsh, commented on the report, saying, “The strong demand for travel continues, with airlines posting a 10.7% year-on-year increase in travel for May.
While airlines are doing everything they can to ensure smooth journeys for all travelers over the peak northern summer period, our expectations of air navigation service providers (ANSPs) are already being tested. We need ANSPs to do their job efficiently to avoid delays and disruptions.”
Air Passenger Market in Detail
- % of industry RPKs in 2023
- Year-on-year change in load factor
- Load Factor Level
Regional Breakdown – International Passenger Markets
All regions showed strong growth for international passenger markets in May 2024 compared to May 2023, with the load factor increasing in all regions except North America.
- Asia-Pacific airlines led the way with a 27.0% year-on-year increase in demand, with capacity up by 26.0% year-on-year and a load factor of 81.6%.
- European carriers saw an 11.7% year-on-year increase in demand, with capacity up by 11.3% year-on-year and a load factor of 84.7%.
- Middle Eastern airlines experienced a 9.7% year-on-year increase in demand, with capacity up by 9.0% year-on-year and a load factor of 80.7%.
- North American carriers saw an 8.1% year-on-year increase in demand, with capacity up by 9.7% year-on-year and a load factor of 84.0%.
- Latin American airlines saw a 15.9% year-on-year increase in demand, with capacity up by 14.3% year-on-year and a load factor of 85.1%, the highest among the regions.
- African airlines experienced a 14.1% year-on-year increase in demand, with capacity up by 8.2% year-on-year and a load factor of 72.3%.
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Domestic Passenger Markets
Domestic demand increased at a stable pace in May, with China’s growth rate surging in line with the post-Labor Day holidays. Japan, however, declined by -1.8% possibly reflecting low business and consumer confidence.
- % of industry RPKs in 2023
- year-on-year change in load factor
- Load Factor Level
