IATA sees 21.5 percent increase in passenger demand for February
Passengers inflight
The International Air Transport Association (IATA) released data for February 2024 citing a 21.5 percent increase in total passenger demand, measured in revenue passenger kilometres (RPKs), from February 2023.
Total capacity, measured in available seat kilometres (ASK), was up 18.7 percent year-on-year. The February load factor was 80.6 percent (+1.9ppt compared to February 2023).
International demand increased by 26.3 percent compared to February 2023; capacity was up 25.5 percent year-on-year and the load factor improved to 79.3 percent (+0.5ppt on February 2023).
Domestic demand rose 15.0 percent compared to February 2023; capacity was up 9.4 percent year-on-year and the load factor was 82.6 percent (+4.0ppt compared to February 2023).
IATA noted in its press release that February 2024 was a leap year with one extra day compared to February 2023. This slightly exaggerates growth in both demand and capacity to the positive.
“The strong start to 2024 continued in February with all markets except North America reporting double-digit growth in passenger traffic. There is good reason to be optimistic about the industry’s prospects in 2024 as airlines accelerate investments in decarbonization and passenger demand shows resilience in the face of geopolitical and economic uncertainties,” said Willie Walsh, IATA’s Director General.
“It is critical that politicians resist the temptation of cash grabs with new taxes that could destabilize this positive trajectory and make travel more expensive. In particular, Europe is a worry as it seems determined to lock in its sluggish economic recovery with uncompetitive tax proposals.”
