The International Air Transport Association (IATA) reported a significant surge in air travel demand for April 2024. Compared to April 2023, global passenger traffic jumped 11per cent, measured in revenue passenger kilometers (RPKs). This positive trend comes as the industry enters the peak northern summer travel season. The growth was driven by strong international demand, which rose 15.8per cent year-over-year. This increase was closely matched by a 14.8per cent rise in seat capacity, resulting in a healthy load factor of 82.2per cent. Domestic travel also saw growth, albeit at a slower pace of 4per cent, with a load factor of 82.6per cent.
“Passenger demand has been growing for 36 consecutive months. As we enter the peak northern summer travel season, there is every reason to feel optimistic for a strong summer with airlines offering a wide range of travel options. 97per cent of passengers asked in our recent survey said they were satisfied with their last flight. Every part of the travel value chain needs to be focused on maintaining that,” said Willie Walsh, IATA’s Director General.
The IATA Passenger Survey also revealed 88per cent agreement that ‘air travel makes my life better’. “That’s an important motivation as our members gather for the IATA Annual General Meeting and World Air Transport Summit in Dubai next week. This strong endorsement of the power of air connectivity to transform lives and boost economies brings with it a challenge that will also be on the minds of all attending. It is critically important that we achieve net zero carbon emissions by 2050 so that people can continue to rely on all the benefits of air travel,” said Walsh.
Regional and Domestic Market
IATA also reports strong growth in international passenger demand for April 2024, with all regions experiencing significant increases compared to April 2023. The Asia-Pacific region leads with a staggering 32.1per cent surge in demand, followed by Latin America 14.5per cent, Africa 15.5per cent, the Middle East 14.2per cent and Europe 10.1per cent.
Asia-Pacific airlines are experiencing a boom, with demand exceeding capacity growth. Their load factor, a measure of seat occupancy, reached a commendable 83.7per cent. This growth is fuelled by strong traffic flows from the Middle East and Africa into the region.
The influential International Air Transport Association (IATA), which represents more than 300 airlines and over 80 per cent of global air traffic, holds its annual meeting on June 2-4 in Dubai, the world’s busiest international hub. Aviation leaders have said the pandemic that grounded most of the world’s fleet and ravaged airline balance sheets at the start of the decade is finally in the rear-view mirror.
Other regions reported positive growth as well:
• Middle East: Demand up 14.2per cent, load factor jumped 3.0 percentage points to 79.3per cent.
• Latin America: Demand rose 14.5per cent, boasting the highest load factor 84.1per cent among all regions.
• Africa: Demand increased 15.5per cent, with the load factor climbing to 73.0per cent.
• North America: Demand grew 6.5per cent, but the load factor dipped slightly to 81.0per cent.
Domestic travel saw a more moderate increase, with China’s growth slowing after a holiday rush. Japan’s near-flat performance reflects the end of their fiscal year and school holidays. However, IATA remains optimistic about the overall domestic travel trend.
