IATA: Passenger demand up 21.5% in February

The International Air Transport Association (IATA) released data for February 2024 global passenger demand showing a rise of 21.5 percent. Total demand, measured in revenue passenger kilometres (RPKs), was up 21.5 percent compared to February 2023. Total capacity, measured in available seat kilometres (ASK), was up 18.7 percent year-on-year. The February load factor was 80.6 percent (+1.9ppt compared to February 2023). International demand rose 26.3 percent compared to February 2023; capacity was up 25.5 percent year-on-year and the load factor improved to 79.3 percent (+0.5ppt on February 2023). Domestic demand rose 15.0 percent compared to February 2023; capacity was up 9.4 percent year-on-year and the load factor was 82.6 percent (+4.0ppt compared to 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 Director General Willie Walsh. (PHOTO: IATA) “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,” said Willie Walsh, IATA’s Director General. Air passenger market in detail – February 2024 February 2024 (% year-on-year) World share1 RPK ASK PLF (%-pt) PLF (level) Total Market 100% 21.5% 18.7% 1.9% 80.6% Africa 2.1% 22.5% 24.3% -1.1% 74.4% Asia Pacific 31.7% 37.8% 30.1% 4.7% 84.4% Europe 27.1% 14.8% 14.6% 0.2% 76.1% Latin America 5.5% 13.0% 10.8% 1.6% 82.7% Middle East 9.4% 19.7% 18.8% 0.6% 80.8% North America 24.2% 8.9% 8.8% 0.0% 79.5% Regional Breakdown – International Passenger Markets All regions showed double-digit growth for international passenger markets in February 2024 compared to February 2023. For the first time, demand for international services exceeded pre-pandemic levels (+0.9% compared to February 2019). This, however, is skewed by February 2024 being a leap-year with an extra day compared to February 2023. Asia-Pacific airlines saw a 53.2% year-on-year increase in demand. Capacity increased 52.1% year-on-year and the load factor rose to 84.9% (+0.6ppt compared to February 2023), the highest among all regions. European carriers saw a 15.9% year-on-year increase in demand. Capacity increased 16.0% year-on-year, and the load factor was 74.7% (flat compared to February 2023). Middle Eastern airlines saw a 19.7% year-on-year increase in demand. Capacity increased 19.1% year-on-year and the load factor rose to 80.8% (+0.4ppt compared to February 2023). North American carriers saw a 16.0% year-on-year increase in demand. Capacity increased 17.6% year-on-year, and the load factor fell to 77.7% (-1.1ppt compared to February 2023). Latin American airlines saw a 21.0% year-on-year increase in demand. Capacity climbed 18.6% year-on-year. The load factor rose to 84.2% (+1.7ppt compared to February 2023). African airlines saw a 20.7% year-on-year increase in demand. Capacity was up 22.1% year-on-year. The load factor fell to 74.0% (-0.8ppt compared to February 2023). Air passenger market in detail – February 2024 February 2024 (% year-on-year) World share1 RPK ASK PLF (%-pt) PLF (level) Domestic 39.9% 15.0% 9.4% 4.0% 82.6% Dom. Australia 0.8% 14.9% 9.1% 3.7% 73.4% Dom. Brazil 1.2% 3.2% 5.5% -1.7% 77.5% Dom. China P.R. 11.2% 35.1% 20.5% 9.2% 84.9% Dom. India 1.8% 5.3% 4.8% 0.5% 88.8% Dom. Japan 1.1% 9.1% 0.9% 5.9% 79.0% Dom. US 15.4% 5.7% 4.8% 0.7% 80.2% Domestic markets Domestic demand growth was led by China (+35.1% compared to February 2023) which benefitted from unrestricted Lunar New Year travel. For Editorial Inquiries Contact: Editor Matt Driskill at [email protected] For Advertising Inquiries Contact: Head of Sales Kay Rolland at [email protected]