Muscat: Middle Eastern airlines saw a 10.8 percent year-on-year increase in demand, according to a new report published by the International Air Transport Association (IATA) for March 2024 global passenger demand.
“Capacity increased 13.9 percent year-on-year and the load factor fell -2.1 percent to 77.5 percent compared to March 2023,” the report further said.
European carriers saw an 11.6 percent year-on-year increase in demand while capacity increased 11.4 percent year-on-year, and the load factor was 79.9 percent (up just 0.1 percent compared to March 2023), the IATA report added.
Meanwhile, North American carriers saw a 14.5 percent year-on-year increase in demand. Capacity increased 14.8 percent year-on-year, and the load factor fell to 84.7 percent (-0.2 percent compared to March 2023).
The IATA report further said that total demand, measured in revenue passenger kilometres (RPKs), was up 13.8 percent compared to March 2023. Total capacity, measured in available seat kilometres (ASK), was up 12.3 percent year-on-year. The March load factor was 82 percent (+1 percent compared to March 2023).
International demand rose 18.9 percent compared to March 2023; capacity was up 18.8 percent year-on-year and the load factor improved to 81.6 percent (+0.1 percent in March 2023).
Domestic demand rose 6.6 percent compared to March 2023; capacity was up 3.4 percent year-on-year and the load factor was 82.6 percent (+2.5 percent compared to March 2023).
“Demand for travel is strong. And there is every indication that this should continue into the peak Northern Summer travel season. It is critical that we have the capacity to meet this demand and ensure a hassle-free travel experience for passengers. That means making urgent progress to resolve supply chain issues and for airports and air traffic management to be fully staffed and operating at maximum efficiency,” said Willie Walsh, IATA’s Director General.
“While airlines are prepared for customer care and assistance when operational issues arise, they are fed-up of bearing the cost when delays and cancellations are the result of poor preparation in other parts of the value chain,” he further added.
All regions showed strong growth for international passenger markets in March 2024 compared to March 2023. Load factor performance was patchy, falling year-on-year in three of the six regions.
Asia-Pacific airlines continue to lead with way, with a 38.5 percent year-on-year increase in demand. Capacity increased 37.4 percent year-on-year and the load factor rose to 85.6 percent (+0.7 percent compared to March 2023), the highest among all regions. Major routes from Asia-Pacific display outstanding growth, although the number of scheduled air services from China to North America is still only 16.5 percent of pre-pandemic levels.
Latin American airlines saw a 19.7 percent year-on-year increase in demand. Capacity climbed 18.3 percent year-on-year. The load factor rose to 84.3 percent (+0.9 percent compared to March 2023).
African airlines saw an 8.1 percent year-on-year increase in demand. Capacity was up 11 percent year-on-year. The load factor fell to 70.3 percent (-1.9 percent compared to March 2023).
Read the full article here
