World airlines record 21.5% passenger traffic demand, surge in patronage

THE International Air Transport Association ( IATA) has released data for February 2024 global passenger demand with total demand, measured in revenue passenger kilometers ( RPKS), up 21.5 per cent compared to February 2023.

Total capacity, measured in available seat kilometers ( ASK), was up 18.7 per cent year- on- year. The February load factor was 80.6 per cent (+ 1.9ppt compared to February 2023).

International demand rose 26.3 per cent compared to February 2023; capacity was up 25.5 per cent year- on- year and the load factor improved to 79.3 per cent (+ 0.5ppt on February 2023).

Note that February 2024 was a leap year with one extra day compared to February 2023. This slightly exaggerates growth in both demand and capacity to the positive.

IATA’S Director General, Willie Walsh, said the strong start to 2024 continued in February with all markets except North America reporting double- digit growth in passenger traffic.

“There is good reason to be optimistic about the industry’s prospects in 2024 as airlines accelerate investments in decarbonisation and passenger demand shows resilience in the face of geopolitical and economic uncertainties.

“It is critical that politicians resist the temptation of cash grabs with new taxes that could destabilise this positive trajectory and make travel more expensive. In particular, Europe is a worry as it seems determined to lock in its sluggish economic recovery with uncompetitive tax proposals,” Walsh said,

All regions showed doubledigit growth for international passenger markets in February 2024 compared to February 2023. For the first time, demand for international services exceeded prepandemic levels (+ 0.9 per cent compared to Februar y 2023). This, however , is skewed by Februar y 2024 being a leap- year with an extra day compared to February 2023.

African airlines’ sa w a 20.7 per cent year- on- year increase in demand. Capacity was up 22.1 per cent year- onyear. The load factor fell to 74.0 per cent (- 0.8ppt com - pared to February 2023).

Asia- Pacific airlines saw a 53.2 per cent year- on- year increase in demand. Capacity increased 52.1 per cent yearon- year and the load factor rose to 84.9 per cent (+ 0.6ppt compared to Februar y 2023), the highest among all regions.

European carriers’ saw a 15.9 per cent year- on- year increase in demand. Capacity increased 16.0 per cent yearon- year, and the load factor was 74.7 per cent ( flat compared to February 2023). Middle Eastern airlines saw a 19.7 per cent year- on- year increase in demand. Capacity increased 19.1 per cent yearon- year and the load factor rose to 80.8 per cent (+ 0.4ppt compared to February 2023). North American carriers saw a 16.0 per cent year- on- year increase in demand. Capacity increased 17.6 per cent yearon- year, and the load factor fell to 77.7 per cent (- 1.1ppt compared to February 2023) Latin American airlines’ saw a 21.0 per cent year- on- year increase in demand. Capacity climbed 18.6 per cent year- onyear. The load factor rose to 84.2 per cent (+ 1.7ppt compared to February 2023).