The latest International Air Transport Association (IATA) data saw global air travel demand reach new heights – up 8.6 per cent in August 2024 compared to 2023 – while the load factor also hit an all-time record high of 86.2 per cent.
The IATA data tracks with similar recent global figures that show international air travel is driving passenger demand, rising 10.6 per cent in August 2024 against last year with year-on-year capacity also up 10.1 per cent.
Meanwhile, global domestic demand rose 5.6 per cent in August 2024 compared to the previous period last year with a marginal capacity increase of 1.2 per cent YOY.
In the Asia-Pacific region, Asia Pacific airlines lead industry traffic growth in August with air travel demand at just eight per cent off full recovery to pre-pandemic levels.
APAC airlines achieved double-digit growth (19.9%) in demand as capacity increased 18.8 per cent year-on-year and the load factor hit 85.2 per cent.
Global passenger traffic is up across all regions after exceeding pre-pandemic figures for the first time earlier this year.
Optimistic outlook for air travel demand
Earlier this year, UN Tourism predicted a full international travel recovery in 2024.
The air travel demand outlook remains optimistic. Trip bookings made between May and July 2024 for travel during August and September 2024 saw a 5.7 per cent YOY increase in industry ticket sales compared to last year.
Despite the usual seasonal slowdown, commercial air traffic is expected to keep rising. The international segment led the growth with a 6.6 per cent rise, while domestic sales followed at 4.3 per cent.
IATA Director General Willie Walsh said airlines are doing a great job of meeting the growing passenger demand for air travel.
“Efficiency gains have driven load factors to record highs while the capacity increase demonstrates resilience in the face of persistent supply chain issues and infrastructure deficiencies,” he said.
Read the full report here.
