Global passenger demand soars by 13.8% in March, says IATA

The International Air Transport Association (IATA) has reported a substantial surge in global passenger demand for March 2024, with total demand, measured in revenue passenger kilometres (RPKs), rising by 13.8% compared to March 2023. This growth is accompanied by a 12.3% increase in total capacity, measured in available seat kilometres (ASK), resulting in a March load factor of 82.0%, representing a 1.0-percentage-point increase from the previous year.

International demand witnessed a remarkable 18.9% rise compared to March 2023, with capacity also increasing by 18.8% year-on-year. The load factor for international flights improved to 81.6%, marking a 0.1-percentage-point increase from March 2023.

Meanwhile, domestic demand experienced a 6.6% increase compared to March 2023, with capacity rising by 3.4% year-on-year. The load factor for domestic flights reached 82.6%, showcasing a significant 2.5-percentage-point increase from the previous year.

Willie Walsh, IATA’s Director General, emphasized the importance of meeting the growing demand for travel, particularly as the peak Northern Summer travel season approaches. Walsh highlighted the necessity for resolving supply chain issues and ensuring operational efficiency across airports and air traffic management systems to facilitate a seamless travel experience for passengers.

Regionally, all regions witnessed robust growth in international passenger markets compared to March 2023. Notably, Asia-Pacific airlines led the way with a staggering 38.5% year-on-year increase in demand, while European carriers reported an 11.6% increase. North American carriers saw a 14.5% rise in demand, Latin American airlines reported a 19.7% increase, Middle Eastern airlines saw a 10.8% rise, and African airlines witnessed an 8.1% increase.

In domestic markets, China remained the leading market with a 17.6% increase compared to March 2023, although growth rates in other markets mirrored typical pre-pandemic levels.

Overall, the data reflects a strong recovery in passenger demand, signalling optimism for the aviation industry as it continues to rebound from the impacts of the pandemic.