Global Passenger Demand Sees 7.1% Increase In October 2024 According To IATA Data

The International Air Transport Association (IATA) has shared data on global passenger demand for October 2024. The figures reveal a 7.1% increase in total demand, measured in revenue passenger kilometres (RPK), compared to the same month in 2023. Capacity, assessed by available seat kilometres (ASK), rose by 6.1% year-on-year, with the load factor reaching 83.9%, an increase of 0.8 percentage points from October 2023.

International travel demand saw a significant rise of 9.5% compared to October 2023. Capacity for international flights increased by 8.6% year-on-year, and the load factor improved to 83.5%, up by 0.6 percentage points from the previous year. Meanwhile, domestic travel demand grew by 3.5% over the same period, with capacity rising by 2.0% and the load factor reaching 84.5%, marking a gain of 1.2 percentage points.

All regions experienced growth in international passenger markets during October 2024 compared to October 2023. Europe recorded the highest load factors, while Africa showed notable increases; however, both the Americas and the Middle East experienced declines in their load factors.

Asia-Pacific airlines reported a substantial year-on-year demand increase of 17.5%. Their capacity grew by 17.2%, with a load factor of 82.9%, which is an improvement of 0.3 percentage points from October last year.

European carriers saw an increase in demand by 8.7% compared to October last year, with capacity rising by 7.3%. The load factor for European airlines was at an impressive 85.7%, up by 1.1 percentage points from the previous year.

IATA’s Director-General Willie Walsh commented on these trends: "Continued strong and stable demand is good news, but just as important is the steady improvement in load factors. It shows what a great job the industry is doing in flying people more efficiently." He noted that average seat factors have increased significantly from around 67% in the '90s to over 83% today.

Middle Eastern airlines experienced a modest rise in demand at 2.2% year-on-year, with capacity increasing slightly more at 2.5%. However, their load factor decreased slightly to 80.2%, down by 0.2 percentage points compared to October last year.

Growth Across Other Regions

North American airlines reported a demand increase of 3.2% over last year, with capacity growing by 2.9%. Their load factor improved slightly to reach 84.2%, marking an increase of 0.3 percentage points from October last year.

Latin American carriers experienced a robust growth in demand at a rate of 10.9% compared to last year, with capacity climbing even higher at an increase of 11.6%. Despite this growth, their load factor fell slightly to reach 85.3%, down by 0.6 percentage points from October last year.

African airlines saw their demand rise significantly by 10.4% on a yearly basis, while their capacity increased by only half that rate at just over five percent annually; however, they achieved a notable improvement in their load factor which rose sharply to reach seventy-three point two percent - up three point four percentage points when compared against figures recorded twelve months prior.

With inputs from WAM