The International Air Transport Association (IATA) has released data for July 2024 global passenger demand saying the month was “another positive” one with total demand, measured in revenue passenger kilometers (RPK) growing by 8.0 per cent compared to July 2023.
The association said in a statement that total capacity, measured in available seat kilometers (ASK), was up 7.4% year-on-year, with load factor climbing to 86.0 per cent (+0.5 percentage point compared to July 2023).
It also disclosed that international demand rose 10.1 per cent compared to July 2023 while capacity was up 10.5 per cent year-on-year and the load factor fell to 85.9 per cent (-0.3 percentage point compared to July 2023).
Demand, on the other hand rose 4.8 per cent compared to July 2023. Capacity was up 2.8% year-on-year and the load factor was 86.1 per cent (+1.7 percentage point compared to July 2023).
A region-by-region breakdown showed strong growth for international passenger markets in July 2024 compared to July 2023, with signs that many markets are returning to long-term growth trends after the post-pandemic bounce back.
According to IATA, African airlines saw a 7.4 per cent year-on-year increase in demand and capacity increasing by 6.7 per cent year-on-year while the load factor rose to 74.3 per cent (+0.5 percentage point compared to July 2023).
Asia-Pacific airlines’ growth remained strong, with a 19.1 per cent year-on-year increase in demand; capacity increased 20.3 per cent year-on-year while the load factor was 83.8 per cent (-0.8 percentage point compared to July 2023).
For the European carriers, passenger demand saw an 8.3 per cent year-on-year increase; capacity increased 8.1 per cent year-on-year, and the load factor was 87.5 per cent (+0.2 percentage point compared to July 2023).
Middle Eastern carriers saw a 5.8 per cent year-on-year increase in demand; capacity increased 5.5 per cent year-on-year and the load factor was 84.1 per cent (+0.3 percentage point compared to July 2023).
North American carriers saw a 5.3 per cent year-on-year increase in demand; capacity increased 6.3 per cent year-on-year, and the load factor was 89.4 per cent (-0.8 percentage point compared to July 2023), the highest among regions.
Latin American airlines saw a 13.4 per cent year-on-year increase in demand; capacity upped 15.7 per cent year-on-year while the load factor was 87.5 per cent (-1.7 percentage point compared to July 2023).
Commenting on the performance, IATA’s director general, Mr Willie Walsh said: “July was another positive month. In fact, passenger demand hit an all-time high for the industry and in all regions except Africa, despite significant disruption caused by the CrowdStrike IT outage.
“The winding down of the peak northern summer season is a reminder of how much people depend on flying. As the mix of travelers shift from leisure to business, aviation’s many roles are evident—reuniting families, enabling exploration, and powering commerce. People need and want to fly. And they are doing that in great numbers.
“Load factors are at the practicable maximum. But persistent supply chain bottlenecks have made deploying the capacity to meet the need to travel more challenging.
“As much of the world returns from vacation, there is an urgent call for manufacturers and suppliers to resolve their supply chain issues so that air travel remains accessible and affordable to all those who rely on it,” said Walsh.
