The International Air Transport Association (IATA) has published data regarding global passenger demand for August 2024, highlighting several key points:
- Total demand, as measured in revenue passenger kilometers (RPK), increased by 8.6% compared to August 2023. Total capacity, indicated by available seat kilometers (ASK), rose by 6.5% year-on-year. The load factor for August reached 86.2%, marking a 1.6 percentage point increase from August 2023, which is a new record.
- International passenger demand saw a rise of 10.6% compared to the same month in the previous year. Capacity increased by 10.1% year-on-year, and the load factor improved to 85.7%, up by 0.4 percentage points from August 2023.
- Domestic demand grew by 5.6% in comparison to August 2023. Capacity saw a modest increase of 1.2% year-on-year, while the load factor reached 86.9%, reflecting a significant rise of 3.6 percentage points from the previous year.
“The air travel market is thriving, and airlines are effectively responding to the increasing demand for travel. Efficiency improvements have led to record-high load factors, and the 6.5% increase in capacity illustrates the industry’s resilience amid ongoing supply chain challenges and infrastructure limitations,” stated Willie Walsh, IATA’s Director General.
“Looking forward, the sustained growth in demand suggests that we may soon face an infrastructure capacity crunch, which could limit connectivity and options for both passengers and businesses. To fully leverage the advantages of aviation, governments must make decisive moves to ensure adequate infrastructure capacity. Meanwhile, airports and air navigation service providers must optimize their existing resources. Specifically, the discrepancies in declared capacity among airports with similar infrastructure must be addressed, encouraging airports to adopt the practices of the top performers. The industry cannot afford to underutilize the airport infrastructure currently available,” Walsh emphasized.
All regions experienced growth in international passenger markets in August 2024 when compared to August 2023. Ticket sales from May to July for travel scheduled in August and September indicated a year-on-year increase of 6.6%, suggesting a positive outlook for continued robust growth throughout the year.
Airlines in the Asia-Pacific region recorded a significant year-on-year demand increase of 19.9%. Capacity rose by 18.8% year-on-year, resulting in a load factor of 85.2%, which is an improvement of 0.8 percentage points compared to August 2023. The Asia-Pacific market continues to expand vigorously and is now only 8 percentage points away from fully recovering to pre-pandemic levels.
European airlines reported a 9.1% year-on-year increase in demand. Capacity grew by 8.5% year-on-year, with a load factor of 87.2%, reflecting a 0.5 percentage point increase from August 2023. The Europe-Asia route emerged as the fastest-growing segment, although it remains significantly below its peak levels from 2019.
Middle Eastern airlines experienced a 4.9% year-on-year rise in demand. Capacity increased by 5.6% year-on-year, while the load factor stood at 82.5%, which is a decrease of 0.6 percentage points compared to August 2023.
North American airlines saw a 4.3% year-on-year increase in demand. Capacity rose by 3.8% year-on-year, and the load factor reached 88.2%, marking a 0.4 percentage point increase from August 2023, the highest among all regions.
Latin American airlines reported a 13.6% year-on-year increase in demand, with capacity climbing by 15.2% year-on-year. The load factor was recorded at 85.1%, reflecting a decrease of 1.2 percentage points compared to August 2023.
African airlines experienced a 10.1% year-on-year increase in demand, with capacity rising by 7.3% year-on-year. The load factor improved to 77.8%, an increase of 2.0 percentage points compared to August 2023.
In August, there was a notable rise in domestic demand, with all major markets experiencing growth, particularly in China. Ticket sales for domestic travel during August and September saw a year-on-year increase of 4.3%, indicating strong growth potential for the remainder of the year.
