Asia Pacific loads top all regions - IATA

BTN News
Friday, 05 April 2024

The International Air Transport Association (IATA) released data for February 2024 global passenger demand with the following highlights:


•    Total demand, measured in revenue passenger kilometres (RPKs), was up 21.5 per cent compared to February 2023. 
Total capacity, measured in available seat kilometres (ASKs), was up 18.7 per cent year-on-year. The February load factor was 80.6 per cent (+1.9 percentage points compared to February 2023). 
•    International demand rose 26.3 per cent compared to February 2023; capacity was up 25.5 per cent year-on-year and the load factor improved to 79.3 per cent (+0.5 ppts on February 2023). 
•    Domestic demand rose 15.0 per cent compared to February 2023; capacity was up 9.4 per cent year-on-year and the load factor was 82.6 per cent (+4.0 ppts compared to February 2023). 
February 2024 was a leap year with one extra day compared to February 2023. This slightly exaggerated growth in both demand and capacity.

“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.
 
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 per cent 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 per cent year-on-year increase in demand. Capacity increased 52.1 per cent year-on-year and the load factor rose to 84.9 per cent (+0.6 ppts compared to February 2023), the highest among all regions. 

European carriers saw a 15.9 per cent year-on-year increase in demand. Capacity increased 16.0 per cent year-on-year, and the load factor was 74.7 per cent (flat compared to February 2023). 

Middle Eastern airlines saw a 19.7 per cent year-on-year increase in demand. Capacity increased 19.1 per cent year-on-year and the load factor rose to 80.8 per cent (+0.4 ppts compared to February 2023). 

North American carriers saw a 16.0 per cent year-on-year increase in demand. Capacity increased 17.6 per cent year-on-year, and the load factor fell to 77.7 per cent (-1.1 ppts compared to February 2023).
 

Latin American airlines saw a 21.0 per cent year-on-year increase in demand. Capacity climbed 18.6 per cent year-on-year. The load factor rose to 84.2 per cent (+1.7 ppts compared to February 2023).

African airlines saw a 20.7 per cent year-on-year increase in demand. Capacity was up 22.1 per cent year-on-year. The load factor fell to 74.0 per cent (-0.8 ppts compared to February 2023).

Domestic 

Domestic demand growth was led by China (+35.1 per cent compared to February 2023), which benefited from unrestricted Lunar New Year travel.

Asia Pacific loads top all regions - IATA

BTN News
Friday, 05 April 2024

The International Air Transport Association (IATA) released data for February 2024 global passenger demand with the following highlights:


•    Total demand, measured in revenue passenger kilometres (RPKs), was up 21.5 per cent compared to February 2023. 
Total capacity, measured in available seat kilometres (ASKs), was up 18.7 per cent year-on-year. The February load factor was 80.6 per cent (+1.9 percentage points compared to February 2023). 
•    International demand rose 26.3 per cent compared to February 2023; capacity was up 25.5 per cent year-on-year and the load factor improved to 79.3 per cent (+0.5 ppts on February 2023). 
•    Domestic demand rose 15.0 per cent compared to February 2023; capacity was up 9.4 per cent year-on-year and the load factor was 82.6 per cent (+4.0 ppts compared to February 2023). 
February 2024 was a leap year with one extra day compared to February 2023. This slightly exaggerated growth in both demand and capacity.

“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.
 
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 per cent 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 per cent year-on-year increase in demand. Capacity increased 52.1 per cent year-on-year and the load factor rose to 84.9 per cent (+0.6 ppts compared to February 2023), the highest among all regions. 

European carriers saw a 15.9 per cent year-on-year increase in demand. Capacity increased 16.0 per cent year-on-year, and the load factor was 74.7 per cent (flat compared to February 2023). 

Middle Eastern airlines saw a 19.7 per cent year-on-year increase in demand. Capacity increased 19.1 per cent year-on-year and the load factor rose to 80.8 per cent (+0.4 ppts compared to February 2023). 

North American carriers saw a 16.0 per cent year-on-year increase in demand. Capacity increased 17.6 per cent year-on-year, and the load factor fell to 77.7 per cent (-1.1 ppts compared to February 2023).
 

Latin American airlines saw a 21.0 per cent year-on-year increase in demand. Capacity climbed 18.6 per cent year-on-year. The load factor rose to 84.2 per cent (+1.7 ppts compared to February 2023).

African airlines saw a 20.7 per cent year-on-year increase in demand. Capacity was up 22.1 per cent year-on-year. The load factor fell to 74.0 per cent (-0.8 ppts compared to February 2023).

Domestic 

Domestic demand growth was led by China (+35.1 per cent compared to February 2023), which benefited from unrestricted Lunar New Year travel.