(04/07/24) IATA’s data for May 2024 shows that total
demand, measured in revenue passenger kilometers (RPK), was up
10.7% compared to May 2023.
Total capacity, measured in available seat
kilometers (ASK), was up 8.5% year-on-year, whilst load
factor during the month was 83.4% (+1.7ppt compared to May 2023), a record high for
May.
International demand rose 14.6% compared to May
2023. Capacity was up 14.1% year-on- year and the load factor
improved to 82.8% (+0.3ppt on May 2023).
Domestic demand rose 4.7% compared to May 2023;
capacity was up 0.1% year-on-year and the load factor was 84.5%
(+3.8ppt compared to May 2023).
British Airways A380 reg: G-XLED. Picture by Steven Howard of TravelNewsAsia.com
“With May ticket sales for early peak-season
travel up nearly 6%, the growth trend shows no signs of abating.
Airlines are doing everything they can to ensure smooth journeys
for all travelers over the peak northern summer period. But our
expectations of air navigation service providers (ANSP) are
already being tested,” said Willie Walsh, IATA’s Director General.
“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. 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 travelers. We all need
them to do their job efficiently.”
All regions showed strong growth
for international passenger markets in May 2024 compared to May
last year, whilst load factor increased in all regions except North
America.
Asia-Pacific airlines continue to lead the
way, with a 27% year-on-year increase in demand. Capacity
increased 26% y-o-y and load factor rose to 81.6%, +0.6ppt compared to May 2023. This performance maintains Asian
carriers as the largest contributor to industry-wide growth
in May, accounting for 42% of the y-o-y increase.
European carriers saw an 11.7% y-o-y increase in
demand, capacity was up 11.3% y-o-y, and load factor
was 84.7%, up 0.3ppt compared to May 2023.
Middle
Eastern airlines saw a 9.7% y-o-y increase in demand, capacity
jumped 9% y-o-y and load factor increased
0.5ppt to 80.7% compared to May 2023. Asian routes to the Middle
East are particularly strong, now standing some 32% 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% y-o-y
increase in demand, capacity was up 9.7% y-o-y, and load factor
fell to 84%, -1.2ppt compared to May 2023.
Latin American airlines saw a 15.9% y-o-y increase
in demand, capacity climbed 14.3%, whilst load factor
rose to 85.1%, +1.2ppt compared to May 2023, the highest among
the regions.
African airlines saw a 14.1%
y-o-y increase in demand, capacity jumped 8.2%, with load factor rising to 72.3%, +3.7ppt compared to May
2023 – the fastest increase in load factor among all
regions, although Africa still has the lowest load factor overall.