The total capacity in available seat kilometres (ASK) climbed up 8.5 pc year-on-year, says IATA
Continuing the upward momentum, total demand in revenue passenger kilometers (RPKs) was up 10.7 pc compared to May 2023, says International Air Transport Association (IATA) in its latest monthly tracker of global airline business.
According to IATA’s data for May 2024, total capacity in available seat kilometres (ASK) climbed up 8.5 pc year- on-year.
The May load factor was at a new record high of 83.4 pc, rising by 1.7 ppt compared to year-ago period. International demand rose 14.6 pc year-on-year while capacity was up 14.1 pc and the load factor improved to 82.8 pc.
Willie Walsh
“Strong demand for travel continues with airlines posting a 10.7 pc year-on-year increase in travel for May. Airlines filled 83.4 pc of their seats, a record for the month,” says Willie Walsh, IATA’s Director General.
“With May ticket sales for early peak-season travel up nearly 6 pc, the growth trend shows no signs of abating. Airlines are doing everything they can to ensure smooth journeys for all travellers over the peak northern summer period. But our expectations of air navigation service providers (ANSPs) are already being tested,” he adds.
IATA says that Asia-Pacific airlines continue to lead the way, with a 27 pc y-o-y increase in demand. Capacity increased by 26 pc year-on-year and the load factor rose to 81.6 pc, an increase of 0.6 ppt compared to May 2023.
IATA says that this performance maintains Asian carriers as the largest contributor to industry-wide growth in May, accounting for 42 pc of the year-on-year increase.
The statement adds that all regions showed strong growth for international passenger markets in May 2024 compared to May 2023. The load factor increased in all regions except North America.
The statement adds that European carriers saw an 11.7 pc increase in demand while capacity increased by 11.3 pc year-on-year and the load factor was 84.7 pc, up 0.3 ppt compared to May 2023.
Middle Eastern airlines saw a 9.7 pc year-on-year increase in demand. Capacity increased by 9 pc year-on-year and the load factor increased 0.5ppt to 80.7 pc compared to May 2023.
Asian routes to the Middle East are particularly strong, now standing some 32 pc higher than in 2019. Another notable development is the Europe-Middle East route, which saw an April-May RPK increase for two years in a row, reversing the previous historic pattern of a decline between these months. In the coming months, it will become clearer to what extent these trends could be related to the Russia-Ukraine war.
North American carriers saw an 8.1 pc year-on-year increase in demand. Capacity increased by 9.7 pc year-on-year, and the load factor fell to 84 pc, a decline of 1.2ppt compared to May 2023.
“With 5.2 million minutes of air traffic control delays racked up in Europe even before the peak season begins, it is clear that Europe’s ANSPs have unresolved challenges,” Walsh says.
“And the 32,000 flight delays over the Memorial Day weekend in May show that challenges persist in the US too. Airlines are accountable to their customers; ANSPs must be as well. ANSP performance matters to their airline customers and to millions of travellers. We all need them to do their job efficiently,” he adds.
Latin American airlines saw a 15.9 pc year-on-year increase in demand. Capacity climbed by 14.3 pc year-on-year. The load factor rose to 85.1 pc, up 1.2ppt compared to May 2023, the highest among the regions.
African airlines saw a 14.1 pc year-on-year increase in demand. Capacity was up by 8.2 pc year- on-year. The load factor rose to 72.3 pc, an increase of 3.7ppt compared to May 2023. This was the fastest increase in load factor among all regions, although Africa still has the lowest load factor overall.
