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IATA reports global passenger demand up by double digits in May

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IATA reports global passenger demand up by double digits in May
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Rebecca Kanable Assistant Editor | AviationPros

The International Air Transport Association (IATA) released data for May 2024 global passenger demand, revealing a 10.7% increase in total demand compared to May 2023. Capacity rose by 8.5% year-on-year, and the load factor reached a record high of 83.4%, up 1.7 percentage points from the previous year.

International demand saw a significant rise of 14.6% compared to May 2023, with capacity increasing by 14.1%. The load factor for international flights improved to 82.8%, an increase of 0.3 percentage points year-on-year. Domestic demand grew by 4.7%, with a slight capacity increase of 0.1%. The domestic load factor was recorded at 84.5%, up by 3.8 percentage points from May 2023.

Willie Walsh, IATA’s Director General, stated, "Strong demand for travel continues with airlines posting a 10.7% year-on-year increase in travel for May." He highlighted that airlines filled a record-breaking 83.4% of their seats in May and noted the challenges faced by air navigation service providers (ANSPs), especially in Europe and the US, where significant delays were reported.

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In terms of regional performance for international passenger markets:

- Asia-Pacific airlines led with a substantial year-on-year demand increase of 27%. Capacity increased by 26%, and the load factor rose to 81.6%.

- European carriers experienced an 11.7% rise in demand with an equivalent capacity growth of 11.3%. The load factor slightly increased to 84.7%.

- Middle Eastern airlines saw a demand growth of 9.7%, with capacity rising by 9%. Their load factor increased to 80.7%.

- North American carriers had an increase in demand by 8.1%, but despite a capacity rise of 9.7%, the load factor fell to 84%.

- Latin American airlines observed a strong growth of 15.9% in demand, with capacity climbing by 14.3%. Their load factor reached the highest among regions at 85.1%.

- African airlines recorded a demand increase of 14.1%, with capacity up by only 8%. The load factor improved significantly to reach its highest point at this time, although still lower than other regions at just over half.

Domestic markets showed stable growth patterns, notably influenced by China's post-Labor Day holiday surge while Japan saw a decline potentially due to low business and consumer confidence.

Walsh emphasized that "Airlines are doing everything they can to ensure smooth journeys for all travelers over the peak northern summer period," but also pointed out that ANSP performance remains critical for efficient operations.

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