News & Industry Affairs / IATA

May 2019 IATA Air Passenger Market Analysis
Passenger demand remains sound, but the trend has eased


  • Industry-wide revenue passenger kilometres (RPKs) continued to show solid growth in May, increasing by 4.5% in year-on-year terms. However, the trend rate of growth has clearly slowed over recent months.
  • With capacity increasing by a moderate 2.7% over the past year, the industry-wide load factor posted a new record high for May. All regions with the exception of the Middle East set new record levels.
  • International RPK growth moderated slightly this month, driven by slower growth in the developed markets of Europe and North America. Middle East airlines have reduced international capacity by 6% over the past year.

Africa growth lifts a little in May
International RPK volumes also grew slightly faster this month then they did in April – at a modest 2.1% year-on-year vs 1.1%. The region has barely increased capacity over the past year which has led to a 1.3 percentage point increase in the passenger load factor. Even so, at 67.0%, the region lags its counterparts on this measure.

The RPK growth trend has moderated…
Industry-wide revenue passenger kilometres (RPKs) ticked marginally higher in May, up 4.5% in year-onyear terms. This is a solid outcome, following the short-lived dip in activity in March – where RPK growth eased to 3.1% yoy, in part due to the changed timing of Easter – but it remains below the long-term (20-year) average rate of around 5.5%.
    Looking through the regular seasonal volatility, the upwards trend in the level of RPKs continued this month. However, the trend has clearly moderated since around mid-2018.

   The seasonally-adjusted (SA) data are consistent with an annualized RPK growth rate of around 4% currently, compared with a pace of around 7% in the early part of 2018...Download the full document here. 

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