The International Air Transport Association (IATA) released its global passenger demand figures for November 2024, which marked an all-time high of 83.4 percent in terms of load factor.
Total demand in terms of Revenue Passenger Kilometers (RPK) increased by 8.1 percent compared to November 2023.
Similarly, total capacity in Available Seat Kilometers (ASK) grew by 5.7 percent year-on-year.
The November load factor was 83.4 percent, 1.9 percentage points higher than November 2023, an all-time high for November.
International demand is up 11.6 percent from November 2023, while capacity is up 8.6 percent year-on-year, and load factor is 83.4 percent.
Strong performance by carriers in Europe and Asia-Pacific drove this double-digit expansion in demand.
On the other hand, domestic demand rose 3.1 percent over November 2023, while capacity rose 1.5 percent year-on-year and load factor was 83.5 percent.
A month of strong growth
IATA Director General Willie Walsh commented that November was a month of strong growth in air travel demand with an overall expansion of 8.1 percent.
Walsh said: “The month was another reminder of the supply chain problems that are preventing airlines from getting the aircraft they need to meet growing demand. Capacity growth is lagging demand at 2.4 ppt and load factor is at record levels. Airlines are losing opportunities to better serve customers, modernize their products and improve their environmental performance because aircraft are not delivered on time.”
He added that by 2025, the aerospace manufacturing sector should resolve to find a quick and sustainable solution to their supply chain problems.
Growth in regional markets
All regions showed growth for the international passenger market in November 2024 compared to November 2023.
Europe had the highest load factor at 85 percent, while Asia-Pacific led growth with 19.9 percent annual demand growth.
Asia-Pacific airlines saw demand grow 19.9 percent year-on-year, and capacity grew 16.2 percent year-on-year and load factor was 84.9 percent.
Demand from European carriers was up 9.4 percent annually; Capacity grew by 7.1 percent year-on-year and load factor was 85 percent.
Middle East carriers saw demand grow 8.7 percent year-on-year, while capacity grew 3.9 percent year-on-year and load factor was 81 percent.
The North American carrier saw 3.1 percent annual demand growth, 1.6 percent year-over-year capacity growth and 81 percent load factor.
Demand for Latin American airlines grew 11.4 percent year-on-year, with capacity growing 11.9 percent year-on-year and a load factor of 84.4 percent.
Demand for African airlines grew by 12.4 percent year-on-year, while capacity increased by 6 percent year-on-year and load factor increased to 72.9 percent.
On the domestic front
Domestic RPK rose 3.1 percent from a year earlier, slightly decelerating from the 3.5 percent growth posted in October.
Signs of steady growth were seen in all markets except the United States which saw a 2.7 percent contraction, deeper than the 1.2 percent annual decline recorded in October.
This is part of a slowing trend in the US domestic market since June 2024 and mainly reflects activity by low-cost carriers. US mainline carriers continued to see growth over the same period.