Global passenger demand hits record in 2024

Global air passenger demand reacheed record High in 2024, the International Air Transport Association's (IATA) full-year and December 2024 passenger market performance report shows.

 

Total full-year traffic in 2024 (measured in revenue passenger kilometers or RPKs) rose 10.4% compared to 2023. This was 3.8% above pre-pandemic (2019) levels. Total capacity, measured in available seat kilometers (ASK), was up 8.7% in 2024. The overall load factor reached 83.5%, a record for full-year traffic.

 

International full-year traffic in 2024 increased 13.6% compared to 2023, and capacity rose 12.8%. Domestic full-year traffic for 2024 rose 5.7% compared to the prior year, while capacity expanded by 2.5%. 

 

December 2024 was a strong finish to the year with overall demand rising 8.6% year-on-year, and capacity grew by 5.6%. International demand rose by 10.6% and domestic demand by 5.5%. The December load factor reached 84%, a record for the month. 

 

Middle Eastern airlines saw a 9.4% traffic rise in 2024 compared to 2023. Capacity increased 8.4% and load factor climbed 0.7 percentage points to 80.8%. December demand climbed 7.7% compared to the same month in 2023.

 

“2024 made it absolutely clear that people want to travel. With 10.4% demand growth, travel reached record numbers domestically and internationally. Airlines met that strong demand with record efficiency. On average, 83.5% of all seats on offer were filled—a new record high, partially attributable to the supply chain constraints that limited capacity growth. Aviation growth reverberates across societies and economies at all levels through jobs, market development, trade, innovation, exploration, and much more,” said Willie Walsh, IATA’s Director General.

 

“Looking to 2025, there is every indication that demand for travel will continue to grow, albeit at a moderated pace of 8.0% that is more aligned with historical averages. The desire to partake in the freedom that flying makes possible brings some challenges into sharp focus. First, the tragic accident in Washington last night reminds us that safety needs our continuous efforts. Our thoughts are with all those affected. We will never cease our work to make aviation ever safer. 

 

"Second is the airlines’ firm commitment to achieve net zero carbon emissions by 2050. While airlines invested record amounts in purchases of Sustainable Aviation Fuel (SAF) in 2024, less than 0.5% of fuel needs were meet with SAF.  SAF is in short supply and costs must come down. Governments could fortify their national energy security and unblock this problem by prioritizing renewable fuel production from which SAF is derived. In addition to securing energy supplies and increasing the SAF supply, diverting a fraction of the subsidies given for fossil fuel extraction to support renewable energy capacity would also boost prosperity through economic expansion and job creation,” said Walsh.

 

International Passenger Markets

Full-year international traffic surpassed the previous 2019 high by 0.5% in 2024, with growth in all regions. Capacity was 0.9% lower than 2019. The load factor improved by 0.5 percentage points, finishing on 83.2%, a record high. 

 

For the month of December, international demand grew by 10.6%, capacity increased 7.7% and the load factor improved by 2.2 percentage points (compared to December 2023) to 83.9%.

 

Asia-Pacific airlines posted a 26.0% rise in full year international 2024 traffic compared to 2023, maintaining the strongest year-over-year rate among the regions. Capacity rose 24.7% and the load factor climbed 0.8 percentage points to 83.8%. Despite this strong growth, opportunities for further growth remain high, as international RPKs remain 8.7% below 2019 levels. December 2024 traffic rose 17.1% compared to December 2023.

 

European carriers’ full year traffic climbed 9.7% versus 2023. Capacity increased 9.2%, and load factor rose 0.4 percentage points to 84.1%. For December, demand climbed 8.6% compared to the same month in 2023. 

 

North American carriers reported a 6.8% annual traffic rise in 2024 compared to 2023. Capacity increased 7.4%, and load factor fell -0.5 percentage points to 84.2%. December 2024 traffic rose 5.1% compared to the year-ago period.

 

Latin American airlines posted a 14.4% traffic rise in 2024 over full year 2023. Annual capacity climbed 14.3% and load factor increased 0.1 percentage points to 84.8%, the highest among the regions. December demand climbed 11.3% compared to December 2023.

 

African airlines’ annual traffic rose 13.2% in 2024 versus the prior year. Full year 2024 capacity was up 9.5% and load factor climbed 2.5 percentage points to 74.5%, the lowest among regions but a record high for Africa. December 2024 traffic for African airlines rose 12.4% over December 2023.

 

Domestic Passenger Markets

Domestic full-year demand reached record highs for passenger numbers and load factors. The standout performer for 2024 Domestic RPK was once again China, which increased 12.3% over 2023. There was stable growth across other major domestic markets. To note, Japan achieved 3.2% growth while capacity contracted by 0.3%. Only India had a fall in load factor (-0.6 %-pt), but still achieved a load factor of 86.4%—the highest among all domestic markets. -TradeArabia News Service