In November 2024, the total air passenger demand grew by 8.1% compared to the same period in the previous year, according to the International Air Transport Association (IATA).

Generated by AI AgentMarket Intel
Monday, Jan 27, 2025 3:01 am ET1min read

The International Air Transport Association (IATA) has released data on the air passenger market in November 2024. In November 2024, the total demand for air passenger transportation (measured by RPKs revenue passenger kilometers) increased by 8.1% year-on-year compared to November 2023. The total capacity (measured by ASKs available seat kilometers) increased by 5.7% year-on-year. International demand grew by 11.6% year-on-year, while capacity increased by 8.6%. The load factor was 83.4%, up 2.3 percentage points year-on-year. European and Asian-Pacific airlines' demand was strong, driving global air passenger demand to achieve double-digit growth. Domestic demand increased by 3.1% year-on-year, slightly slower than October (up 3.5%). All markets except the United States showed stable growth, and domestic passenger demand in the United States decreased by 2.7%, higher than the year-on-year decline in October (down 1.2%). Specifically, in November 2024, the international passenger market grew year-on-year in all regions compared with the same period in 2023. The highest load factor was in Europe (85.0%), and the demand in Asia-Pacific region grew by 19.9%, leading the growth. Domestic passenger demand grew by 3.1% year-on-year, slightly slower than October (up 3.5%). All markets except the United States showed stable growth, and domestic passenger demand in the United States decreased by 2.7%, higher than the year-on-year decline in October (down 1.2%). Willie Walsh, IATA's Director-General, said: "Air travel demand grew strongly in November, up 8.1% year-on-year. Capacity lagged demand by 2.4 percentage points, and load factor reached a historic high. This data again highlights the ongoing supply chain issues that continue to hamper airlines from meeting the growing demand. Airlines have missed opportunities to improve customer service, modernize products, and improve environmental performance due to the failure to deliver aircraft on time. A quick and lasting solution must be found for the supply chain issues in the aerospace manufacturing industry in 2025."

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