IATA Reports Strong Global Passenger Demand for March 2024

The International Air Transport Association (IATA) has released data for global passenger demand in March 2024, showing a significant increase compared to the same period in 2023.

Total demand, measured in revenue passenger kilometres (RPKs), was up 13.8% compared to March 2023. Total capacity, measured in available seat kilometres (ASK), increased by 12.3% year-on-year. The load factor for March was 82.0%, a 1.0 percentage point increase compared to March 2023.

International demand rose 18.9% compared to March 2023, with capacity up 18.8% year-on-year. The load factor improved to 81.6%, a slight increase of 0.1 percentage point on March 2023. Domestic demand rose 6.6% compared to March 2023, with capacity up 3.4% year-on-year. The load factor was 82.6%, a significant increase of 2.5 percentage points compared to March 2023.

“Travel demand is strong. And there is every indication that this should continue into the peak Northern Summer travel season,” said Willie Walsh, IATA’s Director General. He emphasised the need for urgent progress to resolve supply chain issues and for airports and air traffic management to be fully staffed and operating at maximum efficiency.

All regions demonstrated robust growth for international passenger markets in March 2024 compared to March 2023. Asia-Pacific airlines led the way with a staggering 38.5% year-on-year increase in demand, the highest among all regions. European carriers saw a commendable 11.6% year-on-year increase in demand, while Middle Eastern airlines saw a respectable 10.8% year-on-year increase. North American carriers saw a solid 14.5% year-on-year increase in demand, Latin American airlines saw a promising 19.7% year-on-year increase, and African airlines saw a notable 8.1% year-on-year increase.

Domestic demand increased at a more measured pace in March, returning to typical pre-pandemic growth rates. China continued to be the leading market, with a robust 17.6% increase compared to March 2023. Other markets showed stable growth, except Australia, where a dip in growth may be attributed to the country’s broader economic slowdown in Q1, a factor that our stakeholders should be aware of.