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News 2024


March 2024 IATA Air Passenger Market Analysis 
Published May 1. IATA Economic Reports.

Strong upward trend in passenger traffic


Highlights

  • Industry total Revenue Passenger-Kilometers (RPK) maintained a positive trajectory in March growing 13.8% annually, mostly carried by strong momentum of international traffic. Passenger load factors (PLF) were higher than in comparison to the previous years while available seat capacity continue to follow increases in demand.
  • Domestic traffic rose 6.6% over the year. PR China remained the fastest growing market among those monitored with 17.6% YoY growth. All markets saw solid increases in RPK, maintaining the industry total growth within the prepandemic average pace.
  • International traffic continued to show resilient momentum in March with 18.9% YoY growth in RPK across the entire industry. Traffic from Asia Pacific still surges at a rapid pace, while the remaining regions saw consistent results to previous month.
  • International air services from and to PR China saw great improvements in comparison to last year, although connectivity to North America from the country remained impacted by ongoing geopolitical tensions.

African airlines up 8.1% YoY

African airlines experienced an 8.1% year-on-year increase in international passenger demand, signaling robust growth in international passenger markets during that period. Capacity increased by 11% YoY to meet rising demand.


Industry-wide traffic maintains an upward trend

Industry-wide air passenger traffic, measured in revenue passenger-kilometers (RPK), increased by 13.8% year-on-year (YoY) in March 2024. This month saw a lower annual growth rate in comparison to February 2024, a natural development considering that the industry is now seeing record levels of passenger traffic while rising above the historical record of 2019.
    In seasonally adjusted terms, total RPK contracted 0.4% month-on-month (MoM) while increasing 13.2% YoY. Overall, the global industry maintained an upward trend in March, in continuation of previous developments. Download the full report...