The International Air Transport Association (IATA) has released data for October 2024 global passenger demand. The news remains good for an industry that has soared since the skies opened up post-pandemic.
Total demand, measured in revenue passenger kilometers (RPK), was up 7.1% compared to October 2023. Total capacity, measured in available seat kilometers (ASK), was up 6.1% year-on-year. The October load factor around the world was 83.9% (+0.8ppt compared to October 2023).
International demand rose 9.5% compared to October 2023, with a capacity increase of . 8.6% year-on-year and a load factor rise to 83.5% (+0.6ppt compared to October 2023). Domestic demand rose 3.5%. Capacity was up 2.0% year-on-year and the load factor was 84.5% (+1.2ppt compared to October 2023).
The airline industry is filling more seats than ever. (Photo Credit: Air Canada)
“Continued strong and stable demand is good news, but just as important is the steady improvement in load factors. It shows what a great job the industry is doing in flying people more efficiently,” said Willie Walsh, IATA’s Director General.
Pointing out that average load factors have risen from around 67% in the 1990’s to over 83% today, Walsh says politicians thinking of trying to tax passengers off planes to reduce emissions would do well to note this.
“Even if fewer people fly because taxes make it too expensive, it doesn’t automatically mean reduced emissions because the planes will still fly, just with fewer passengers. That would reverse decades hard won progress. We need to see the planes full to generate the economic and social benefits of travel with the most minimal emissions possible,” Walsh said.
North American carriers saw a 3.2% year-on-year increase in demand. Capacity increased 2.9% year-on-year, and the load factor was 84.2% (+0.3ppt compared to October 2023).
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