Global passenger demand up 16.6pc in January says IATA

Montreal: The International Air Transport Association (IATA) has unveiled the latest data for January 2024, revealing a robust surge in global passenger demand, setting a promising tone for the year ahead.

According to the report, total demand, measured in revenue passenger kilometers (RPKs), surged by 16.6 per cent, marking a significant uptick. Concurrently, total capacity, measured in available seat kilometers (ASK), witnessed a commendable increase of 14.1 per cent. The load factor, a crucial indicator ofof operational efficiency, stood at 79.9 per cent, reflecting a notable rise of 1.7 percentage points.

International markets
Asia-Pacific: Noteworthy for its stellar performance, airlines in the Asia-Pacific region experienced a remarkable 45.4 per cent surge in traffic compared to January 2023.

Europe: European carriers witnessed a commendable 10.8 per cent rise in traffic year-on-year, with capacity also increasing by 10.7 per cent.

Middle East: Airlines in the Middle East recorded a notable 16.2 per cent risein traffic, accompanied by a 15.7 per cent increase in capacity.

North America: In North America, carriers reported a 12.3 per cent increase in traffic compared to January 2023.

Latin America: Latin American airlines saw a robust 17.9 per cent increase intraffic, with capacity rising by 13.2 per cent.

Africa: African airlines witnessed an 18.5 per cent rise in traffic, accompanied by a 19.2 per cent increase in capacity.

Domestic markets
Domestic demand growth remained robust, primarily driven by China, fueled by strong Lunar New Year travel demand. The domestic passenger markets, including China, Australia, Brazil, India, Japanand the US, collectively accounted for approximately 31.4 per cent of global total RPKs and 78.8 per cent of total domestic RPKs.

The International Air Transport Association (IATA) remains optimistic about the sector's resilience and emphasises the need for conducive government policies to sustain growth and pave the way for a sustainable future.

-B