Global passenger demand soars 7.1 per cent in October 2024, IATA reports, BA

The International Air Transport Association (IATA) reported a 7.1 per cent increase in global passenger demand for October 2024 compared to the same month in 2023. This growth, measured in revenue passenger kilometers (RPK), was supported by a 6.1 per cent rise in capacity. The global load factor improved to 83.9 per cent, up by 0.8 percentage points, reflecting the industry’s continued efforts toward operational efficiency.

International travel demand rose by 9.5 per cent, with an 8.6 per cent increase in capacity. The load factor reached 83.5 per cent, up 0.6 percentage points year-on-year. Domestic travel also showed progress, with demand growing by 3.5 per cent and capacity rising by 2.0 per cent, resulting in a load factor of 84.5 per cent, an increase of 1.2 percentage points.

Willie Walsh, IATA’s Director General, highlighted the efficiency gains in the industry, noting that average seat factors have risen significantly over the decades, from around 67 per cent in the 1990s to over 83 per cent today. He stressed the importance of full planes to balance economic and social benefits with reduced emissions, cautioning against excessive taxation aimed at discouraging travel, which he argued could reverse years of progress.
All regions demonstrated growth in international passenger markets. Asia-Pacific airlines led with a 17.5 per cent year-on-year increase in demand, supported by a load factor of 82.9 per cent. European carriers followed with an 8.7 per cent rise in demand and the highest load factor among all regions at 85.7 per cent. Middle Eastern airlines recorded a modest 2.2 per cent growth in demand, with a slight dip in load factor to 80.2 per cent. North American carriers posted a 3.2 per cent increase in demand, achieving a load factor of 84.2 per cent. In Latin America, demand rose by 10.9 per cent, with a load factor of 85.3 per cent. African airlines saw a 10.4 per cent increase in demand, with the sharpest load factor improvement to 73.2 per cent.

Domestic markets remained stable, with China leading growth driven by the increased use of wide-body aircraft, while the US experienced a slight decline. These figures underscore the resilience of the aviation sector in navigating evolving challenges while maintaining efficiency and sustainability.