The International Air Transport Association (IATA) released data for August 2024 global passenger demand with the following highlights:
Total demand, measured in revenue passenger kilometers (RPK), was up 8.6% compared to August 2023. Total capacity, measured in available seat kilometers (ASK), was up 6.5% year-on-year. The August load factor was 86.2% (+1.6ppt compared to August 2023), a new record high.
International demand rose 10.6% compared to August 2023. Capacity was up 10.1% year-on-year and the load factor rose to 85.7% (+0.4ppt compared to August 2023).
Domestic demand rose 5.6% compared to August 2023. Capacity was up 1.2% year-on-year and the load factor was 86.9% (+3.6ppt compared to August 2023).
“The market for air travel is hot and airlines are doing a great job at meeting the growing demand for travel. Efficiency gains have driven load factors to record highs while the 6.5% capacity increase demonstrates resilience in the face of persistent supply chain issues and infrastructure deficiencies,” said Willie Walsh, IATA’s Director General.
“Looking ahead, the continued strong demand growth signals that we could be fast approaching an infrastructure capacity crunch that would restrict connectivity and choice for passengers and businesses. If governments want to maximize the benefits of aviation, they must take bold decisions to ensure sufficient infrastructure capacity. And, in the interim, both airports and air navigation service providers need to do more with the resources they currently have. In particular, the variance in declared capacity of airports with broadly the same infrastructure needs to be resolved, with airports emulating the best performers. The industry cannot afford to under-utilize the airport infrastructure that we have,” said Walsh.
