Passenger air travel sees continued growth with rising load factors

Research

Kim Macaulay Chief Information & Data Officer | International Air Transport Association - IATA

By Sky Industry News

Dec 4, 2024

The International Air Transport Association (IATA) has reported a 7.1% increase in total demand for passenger air travel in October 2024 compared to the same month last year. The growth, measured in revenue passenger kilometers (RPK), is accompanied by a 6.1% rise in total capacity and an increase in the load factor to 83.9%.

International travel demand showed a significant rise of 9.5%, with capacity increasing by 8.6% and the load factor improving to 83.5%. Domestic demand also saw an uptick of 3.5%, with a capacity growth of 2% and a higher load factor at 84.5%.

Willie Walsh, IATA's Director General, emphasized the importance of these figures, stating, “Continued strong and stable demand is good news, but just as important is the steady improvement in load factors. It shows what a great job the industry is doing in flying people more efficiently."

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Walsh also highlighted concerns regarding potential taxes on passengers as a means to reduce emissions: "Politicians thinking of trying to tax passengers off planes...would do well to note this." He argued that reducing passenger numbers through taxation might not lead to lower emissions if flights continue with fewer travelers.

In terms of regional performance, Asia-Pacific airlines experienced a notable increase of 17.5% in demand year-on-year, while European carriers recorded an 8.7% rise. North American carriers saw a modest increase of 3.2%, whereas Middle Eastern carriers had a smaller gain of 2.2%. Latin American airlines enjoyed a substantial boost with a 10.9% rise in demand.

Domestic markets displayed varied results; notably, Chinese domestic travel increased significantly by using wide-body aircraft more extensively.

IATA's data collection combines direct airline reporting with estimates from sources like FlightRadar24 and remains subject to revision.