The International Air Transport Association (IATA) released data for April 2024 global passenger demand. IATA said total demand, measured in revenue passenger kilometres (RPKs), was up 11.0% compared to April 2023. Total capacity, measured in available seat kilometers (ASK), was up 9.6% year-on-year. The April load factor was 82.4% (+1.0ppt compared to April 2023). International demand rose 15.8% compared to April 2023; capacity was up 14.8% year-on-year and the load factor improved to 82.2% (+0.7ppt on April 2023). Domestic demand rose 4.0% compared to April 2023; capacity was up 2.1% year-on-year and the load factor was 82.6% (+1.5ppt compared to April 2023).
“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. 97% 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 deneral.
The IATA Passenger Survey also revealed 88% 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.
| Air passenger market in detail – April 2024 |
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| 1% of industry RPKs in 2023 |
Regional Breakdown – International Passenger Markets
All regions showed strong growth for international passenger markets in April 2024 compared to April 2023. The load factor increased to a two-year high, and capacity increases were well-matched to demand.
- Asia-Pacific airlines continue to lead the way, with a 32.1% year-on-year increase in demand. Capacity increased 29.3% year-on-year and the load factor rose to 83.7% (+1.7ppt compared to April 2023). Traffic flows from the Middle East and Africa to Asia are notably strong.
- European carriers saw a 10.1% year-on-year increase in demand. Capacity increased 10.0% year-on-year, and the load factor was 83.3% (up just 0.1ppt compared to April 2023). International routes from Europe have surpassed pre-COVID levels to all regions except Africa.
- Middle Eastern airlines saw a 14.2% year-on-year increase in demand. Capacity increased 9.9% year-on-year and the load factor increased +3.0ppt to 79.3% compared to April 2023.
- North American carriers saw a 6.5% year-on-year increase in demand. Capacity increased 10.3% year-on-year, and the load factor fell to 81.0% (-2.9ppt compared to April 2023).
- Latin American airlines saw a 14.5% year-on-year increase in demand. Capacity climbed 13.5% year-on-year. The load factor rose to 84.1% (+0.7ppt compared to April 2023), the highest among the regions.
- African airlines saw an 15.5% year-on-year increase in demand. Capacity was up 10.4% year-on-year. The load factor rose to 73.0% (+3.2ppt compared to April 2023).
Domestic markets
| Air passenger market in detail – April 2024 |
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| 1% of industry RPKs in 2023 Note: the six domestic passenger markets for which broken-down data are available account for approximately 31.4% of global total RPKs and 78.8% of total domestic RPKs |
Domestic demand increased at a slower pace in April. China’s growth rate moderated to 4.2% reflecting the end of the holiday surge. Japan’s almost flat performance is explained by the end of the fiscal year and the start of the school spring holiday. Overall, Japan’s RPK trend remains positive.
Air Cargo Demand Continues Strong Growth into Q2
The International Air Transport Association (IATA) released data for April 2024 global air cargo markets showing strong annual growth in demand into the second quarter (Q2). Total demand, measured in cargo tonne-kilometres (CTKs), rose by 11.1% compared to April 2023 levels (11.6% for international operations). This is the fifth consecutive month of double-digit year-on-year growth. Capacity, measured in available cargo tonne-kilometres (ACTKs), increased by 7.1% compared to April 2023 (10.2% for international operations).
| Air cargo market in detail – April 2024 |
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| 1% of industry CTKs in 2023 |
“Air cargo demand started Q2 with a solid 11.1% increase. While many economic uncertainties remain, it appears that the roots of air cargo’s strong performance are deepening. In recent months, air cargo demand grew even when the Purchasing Managers Index (PMI) was indicating the potential for contraction. With the PMI now indicating growth, the prospects for continued strong demand are even more robust,” said Walsh.
Several factors in the operating environment should be noted. In April, the PMIs for global manufacturing output and new export orders turned positive (51.5 and 50.5 respectively). This is the first time in two years that the new export orders PMI has been in growth territory. Industrial production increased by 1.6% in March year-on-year, while global cross-border trade contracted by 0.8%. Inflation remained relatively stable across the US, EU, and Japan in April with rates at 3.4%, 2.6%, and 2.5%, respectively. China reported a 0.2% increase in consumer prices year-on-year—a positive signal amid concerns over China’s economic slowdown.
April Regional Performance
- Asia-Pacific airlines saw 14.0% year-on-year demand growth for air cargo in April – the strongest of all regions. Demand within the Asia market grew by 13.2% compared to April 2023, and the Asia-Europe route grew by 17.7%. The Middle East-Asia route rose by 10.4%, 9.5 percentage points (ppt) less than the growth recorded in March. Capacity increased by 7.8% year-on-year.
- North American carriers saw 7.0% year-on-year demand growth for air cargo in April —the weakest among all regions. Demand on the Asia-North America trade lane grew by 7.3% year-on-year, while the North America-Europe route saw an increase of 5.6%, marking the largest demand growth for this route since September 2022. April capacity increased by 4.0% year-on-year.
- European carriers saw 12.7% year-on-year demand growth for air cargo in April. Intra-European air cargo rose by 34.4% compared to April 2023, reflecting the highest annual growth in over a decade and a jump of 8.1ppt compared to the month before. Europe–Middle East routes saw demand increase by 30.1%, experiencing a drop of 8.5ppt compared to the previous month’s figure. April capacity increased 10.3% year-on-year.
- Middle Eastern carriers saw 9.4% year-on-year demand growth for air cargo in April. The Middle East–Europe market performed particularly well with 30.1% annual growth, ahead of Middle East-Asia which grew by 10.4% year-on-year. April capacity increased 5.7% year-on-year.
- Latin American carriers saw 11.7% year-on-year demand growth for air cargo in April. Capacity increased 9.8% year-on-year.
- African airlines saw 10.6% year-on-year demand growth for air cargo in April. Demand on the Africa–Asia market increased by 25.8% compared to April 2023. April capacity increased by 18.7% year-on-year.
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