Geneva – The International Air Transport Association (IATA) has released data for November 2024, revealing a robust global air passenger market with an 8.1% year-on-year increase in demand. This marks another milestone in the recovery of the aviation sector.
IATA’s global statistics show that total demand, measured in revenue passenger kilometres (RPK), saw an 8.1% rise in November compared to the same month in 2023. With total capacity, measured in available seat kilometres (ASK), up by 5.7%, the November load factor reached 83.4%, marking a 1.9 percentage point increase from November 2023. This represents an all-time high for the month of November, underscoring the strong and sustained recovery of air travel worldwide.
The international market saw particularly strong growth, with demand rising by 11.6% year-on-year. Carriers in Europe and Asia-Pacific played a central role in driving this surge, with international capacity increasing by 8.6%, and a record load factor of 83.4%, up 2.3 percentage points from November 2023.
Domestic demand, though more modest, also showed positive signs, growing 3.1% compared to the previous year. Capacity increased by 1.5%, while the load factor rose by 1.2 percentage points to 83.5%.
IATA’s Director General, Willie Walsh, commented on the results: “November was another month of strong growth in the demand for air travel with an overall expansion of 8.1%. However, the month also highlighted ongoing supply chain issues affecting aircraft deliveries, which have constrained airlines’ ability to fully capitalise on growing demand. Aircraft manufacturers must urgently address these supply chain challenges in 2025 to ensure the industry can meet future demand, improve service offerings, and enhance environmental performance.”
Regional Performance Breakdown
The regional breakdown for November reveals solid growth across the board. Asia-Pacific led in demand expansion, with a remarkable 19.9% year-on-year increase. This was accompanied by a 16.2% rise in capacity and a 2.6 percentage point improvement in load factor, reaching 84.9%.
Europe also reported healthy demand growth, up by 9.4%, while capacity climbed 7.1%. European carriers recorded the highest load factor of any region, at 85.0%, a 1.8 percentage point increase from November 2023.
Middle Eastern airlines saw an 8.7% rise in demand, with capacity up by 3.9%. The load factor reached 81.0%, marking a 3.6 percentage point improvement.
North America’s growth was more subdued, with demand rising by 3.1%, and capacity up by 1.6%. However, the load factor remained steady at 81.0%, up by 1.1 percentage points from the previous year.
Latin American carriers experienced a significant 11.4% surge in demand, with capacity increasing by 11.9%. The load factor for the region stood at 84.4%, although it slightly decreased by 0.4 percentage points from November 2023.
African airlines saw a notable 12.4% increase in demand, with capacity rising by 6.0%. The region’s load factor improved significantly, reaching 72.9%, a 4.1 percentage point gain compared to the previous year.
Domestic Market Insights
In terms of domestic markets, global demand saw a 3.1% increase, with notable stability in most regions, except the United States. Domestic markets such as Brazil, China, and India all posted impressive growth figures. In Brazil, domestic RPK increased by 9.6%, while China and India saw demand growth of 10.5% and 13.3%, respectively.
The US domestic market, however, faced challenges, with a contraction of 2.7% in demand. This reflects a broader trend of declining activity by low-cost carriers, although US mainline carriers continue to see growth.
Looking Ahead
The data for November 2024 indicates a promising outlook for the aviation industry, with strong demand growth across both international and domestic markets. However, the ongoing challenges with aircraft deliveries pose a significant hurdle to fully meeting this demand. It is clear that the aerospace manufacturing sector must take swift action to resolve these supply chain issues in order to support airlines in their recovery and long-term growth.
As the industry moves into 2025, there is hope that these challenges will be addressed, enabling further growth, improved customer experiences, and enhanced environmental sustainability.
SOURCE: IATA
