September 2019 IATA Air Passenger Market Analysis
Another solid outcome in the face of global headwinds


  • Industry-wide revenue passenger kilometres (RPKs) increased by 3.8% over the year to September, a broadly unchanged pace from August. The moderate upward trend in underlying demand remains firmly in place.
  • Demand growth continues to outpace that of capacity, leading to an all-time September high industry load factor. At the regional level, Europe (86.6%), North America (82.8%), and Latin America (81.9%) were the best performers.
  • Growth in international RPKs eased modestly versus August, driven by weaker outcomes in all regions except for North America and Asia Pacific. By contrast, growth in domestic RPKs improved this month, although in the case of Japan and the US, the latest outcome was boosted by a weak outturn a year ago.

Africa falls to the bottom of the growth chart
After outperforming most of the regions last month, African airlines dipped to the bottom of the growth chart in September, with RPKs up 0.9% y-o-y. Looking through recent volatility, however, RPK growth for Q3 2019 remains solid at ~3% y-o-y.

Growth largely unchanged at the aggregated level…
Annual growth in industry-wide revenue passenger kilometres (RPKs) remained broadly unchanged from August, at 3.8%. This marked the eighth consecutive month of year-on-year growth below the long-run average rate of ~5.5%...Download the full document here. 

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