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IATA - logoThe global aviation industry reports historic growth as demand rises 8.1% year-on-year.

The International Air Transport Association (IATA) has unveiled remarkable data for November 2024, showcasing a resurgent global aviation industry. Passenger demand, measured in revenue passenger kilometres (RPK), climbed by 8.1% compared to November 2023, marking a pivotal moment for airlines worldwide. This surge reflects the resilience of the travel sector amid global challenges and the ongoing revival of international tourism.

A Historic Month for Passenger Travel

November’s figures highlight an all-time high load factor of 83.4%, a 1.9 percentage point increase from last year. Capacity, measured in available seat kilometres (ASK), rose by 5.7%, although it continues to trail the explosive growth in demand.

Willie Walsh, IATA’s Director General, emphasized the significance of these numbers, stating:

“November was another month of strong growth in the demand for air travel. However, capacity growth is lagging behind demand, with airlines unable to fully capitalize on opportunities to better serve customers, modernize their fleets, and enhance environmental performance due to persistent supply chain disruptions.”

Regional Leaders in Growth

Asia-Pacific: The Growth Powerhouse

Airlines in the Asia-Pacific region led the charge with a 19.9% year-on-year increase in demand, supported by a 16.2% rise in capacity. The region’s load factor reached an impressive 84.9%, showcasing its dominance as a global aviation hub.

Europe: Strong and Steady

European carriers posted an 8.3% increase in demand, with capacity up by 6.1%. The load factor stood at 85.3%, the highest among all regions, underlining Europe’s robust position in international air travel.

Middle East and Latin America: Dynamic Performers

Middle Eastern carriers achieved an 8.9% demand growth, supported by a moderate 4.1% capacity increase. Similarly, Latin American airlines experienced a 7% rise in RPK, maintaining a load factor of 84.5%.

Africa: Rapidly Expanding

African airlines recorded a 10.9% growth in RPK, demonstrating the region’s emerging importance in the global aviation landscape. With capacity rising by 6%, the load factor reached 73.3%, highlighting untapped potential.

North America: Stabilizing After Turbulence

North American carriers faced a slight contraction in demand, down 0.7% year-on-year. However, the region’s load factor remained stable at 81%, reflecting a balance between mainline carrier growth and challenges within the low-cost segment.

Domestic Markets: Mixed Results

Domestic travel saw a 3.1% rise in RPK, driven by significant growth in markets like India (13.3%) and China (10.5%). India’s domestic load factor reached an industry-leading 89.5%, underscoring its growing prominence. Meanwhile, the U.S. domestic market experienced a 2.7% contraction, attributed to reduced activity among low-cost carriers.

Challenges on the Horizon

Despite the positive momentum, the aviation sector grapples with supply chain disruptions. Delayed aircraft deliveries hinder airlines’ capacity to expand, modernize fleets, and meet rising passenger demand.

Walsh called for urgent action, stating:

“The aerospace manufacturing sector must resolve supply chain bottlenecks swiftly. Addressing these issues is essential to meet growing demand, improve passenger experience, and enhance sustainability efforts.”

The Road Ahead

The aviation industry faces a dual challenge: sustaining robust demand while overcoming operational constraints. With Asia-Pacific and Europe leading the charge and promising growth in emerging markets like Africa and Latin America, the outlook for 2025 remains optimistic.

 

 

 

Written by: Christine Nguyen

 

 

 

 

 

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