Global passenger demand sees 13.8% surge in March: IATA

• March load factor soared to 82%, marking a 1%-point increase compared to March 2023

The International Air Transport Association (IATA) released its March 2024 report on Wednesday, revealing a notable growth in passenger demand compared to March 2023. 
According to the report, total demand for air travel, measured in revenue passenger kilometres (RPKs), experienced a growth of 13.8 percent year-on-year (YoY). 
The surge in demand was accompanied by a healthy increase in the total capacity, measured in available seat kilometres (ASKs), which rose by 12.3 percent compared to the same period in 2023.  

As a result, the March load factor soared to 82 percent, marking a one percent point increase compared to March 2023.
International demand outpaced domestic growth, with a substantial 18.9 percent increase compared to the same period in the preceding year. 

The surge in demand was accompanied by a corresponding 18.8 percent YoY increase in capacity, resulting in an improved load factor of 81.6 percent.
On the domestic front, there was a commendable 6.6 percent increase in demand, albeit at a slower pace compared to international markets. 

Capacity also saw a 3.4 percent rise, leading to an improved load factor of 82.6 percent, representing a 2.5 percent point increase compared to March 2023.
IATA Director General Willie Walsh emphasised the robust demand for travel, expressing confidence that it will persist throughout the peak Northern Summer travel season.

Furthermore, he stressed the critical need for sufficient capacity to meet this demand, adding, “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. 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.” 

(THE AVIATOR)