International Air Transport Association (IATA), the international clearing house for over 3300 airlines globally has released data for November 2024 global passenger demand with African airlines recording a 12.4 percent year-on-year increase in demand. In the released data, capacity was up 6.0 percent year-on-year while the load factor rose to 72.9 percent (+4.1 ppt compared to November 2023).
Among the following highlights stated in the IATA report showed the total demand, measured in revenue passenger kilometers (RPK), was up 8.1 percent compared to November 2023.
While total capacity, measured in available seat kilometers (ASK), was up 5.7 percent year-on-year, the November load factor was 83.4 percent (+1.9 ppt compared to November 2023), an all-time high for November. within the period, International demand rose 11.6 percent compared to November 2023, capacity was up 8.6 percent year-on-year, and the load factor was 83.4 percent (+2.3 ppt compared to November 2023), just as strong performance by carriers in Europe and Asia-Pacific drove this double-digit expansion in demand. Domestic demand rose 3.1 percent compared to November 2023. Capacity was up 1.5 percent year-on-year and the load factor was 83.5 percent (+1.2 ppt compared to November 2023). Commenting on the development, IATA. Director General, Willie Walsh declared: “November was another month of strong growth in the demand for air travel with an overall expansion of 8.1 percent. The month was also another reminder of the supply chain issues that are preventing airlines from getting the aircraft they need to meet growing demand. Capacity growth is lagging demand by 2.4 ppts and load factors are at record levels.
“Airlines are missing out on opportunities to better serve customers, modernize their products and improve their environmental performance because aircraft are not being delivered on time. The 2025 New Year’s resolution for the aerospace manufacturing sector must be finding a fast and durable solution for their supply chain issues.” In the regional breakdown as obtained in the released data, all regions showed growth for international passenger markets in November 2024 compared to November 2023 with Europe having the highest load factors (85.0 percent) while Asia-Pacific led on growth with a 19.9 percent year-on-year expansion in demand. Asia-Pacific airlines achieved a 19.9 percent year-on-year increase in demand. Capacity increased 16.2 percent year-on-year and the load factor was 84.9 percent (+2.6 ppt compared to November 2023). While the European carriers had a 9.4 percent year-on-year increase in demand, with capacity increased 7.1 percent year-on-year, and the load factor was 85.0 percent (+1.8 ppt compared to November 2023), Middle Eastern carriers saw an 8.7 percent percent year-on-year increase in demand. Capacity increased 3.9 percent year-on-year and the load factor was 81.0 percent (+3.6 ppt compared to November 2023). North American carriers saw a 3.1 percent year-on-year increase in demand. Capacity increased 1.6 percent year-on-year, and the load factor was 81.0 percent (+1.1 ppt compared to November 2023). Latin American Airlines saw an 11.4 percent year-on-year increase in demand. Capacity climbed 11.9 percent year-on-year. The load factor was 84.4 percent (-0.4 ppt compared to November 2023). Above all, under the domestic passenger markets, domestic RPK increased 3.1 percent over the previous year, decelerating slightly from the 3.5 percent growth posted in October. Signs of stable growth were shown in all markets except in the US which saw a 2.7 percent contraction, deeper than the 1.2 percent year-on-year dip recorded in October. This is part of a slowing trend in the US domestic market since June 2024 and mainly reflects lower low-cost carrier activity. US mainline carriers have continued to see growth over the same period.
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