Total capacity up 18.7 per cent
BBN Bureau
Dubai: The International Air Transport Association’s (IATA) data for February 2024 global passenger demand said that total demand, measured in revenue passenger kilometres (RPKs), was up 21.5% compared to February 2023.
Total capacity, measured in available seat kilometres (ASK), was up 18.7% year-on-year. The February load factor was 80.6% (+1.9ppt compared to February 2023).
International demand rose 26.3% compared to February 2023; capacity was up 25.5% year-on-year and the load factor improved to 79.3% (+0.5ppt on February 2023).
Domestic demand rose 15.0% compared to February 2023; capacity was up 9.4% year-on-year and the load factor was 82.6% (+4.0ppt compared to February 2023).
Since February 2024 was a leap year with one extra day compared to February 2023, the growth in both demand and capacity is slightly exaggerated to the positive, the report said.
“The strong start to 2024 continued in February with all markets except North America reporting double-digit growth in passenger traffic,” said Willie Walsh, IATA’s Director General.
“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.”
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).
Domestic Markets
Domestic demand growth was led by China (+35.1% compared to February 2023) which benefitted from unrestricted Lunar New Year travel.
