Thursday, July 4, 2024 In May 2024, the International Air Transport Association (IATA) reported a significant uptick in global passenger demand, with total demand, measured in revenue passenger kilometers (RPKs), soaring 10.7% compared to May 2023. The capacity, calculated in available seat kilometers (ASKs), also grew by 8.
5% year-on-year. The load factor reached an impressive 83.4%, marking a record high for May with a 1.
7 percentage point increase from the previous year. Economic Context and Implications: The rise in international demand was particularly strong, jumping 14.6% over the same period last year.
This increase was matched by a 14.1% growth in capacity, and a slight improvement in load factor to 82.8%, up by 0.
3 percentage points. On the domestic front, demand grew by 4.7%, though capacity only edged up by 0.
1%, resulting in a significant load factor increase of 3.8 percentage points to 84.5%.
This surge in travel reflects a robust demand as the industry ramps up for the early peak season, evidenced by nearly 6% increase in May ticket sales. Airlines are striving to accommodate the heightened demand and ensure smooth travel experiences throughout the busy northern summer period. However, challenges loom large, particularly with air navigation service providers (ANSPs).
Before the season’s peak, Europe has already accumulated 5.2 million minutes in air traffic control delays, underscoring ongoing operational challenges. Similarly, the U.
S. faced significant disr.
