Colombia, Chile, Peru and Brazil drive regional aviation growth in the first quarter of 2024

In the first three months of 2024, accumulated traffic increased 9% with 10 million more passengers than in the same period of 2023

(Source: Twitter @IATA)

The markets of Colombia, Chile, Peru and Brazil were the main contributors to this net passenger growth, as together they added 4.6 million additional travelers.

Specifically in March, as described in the Passenger Traffic Report prepared by the Latin American and Caribbean Air Transport Association (ALTA), 41.1 million passengers were transported in the region, which represented an increase of 8% with an additional 3.05 million compared to as of March 2023. Brazil, Colombia and Peru were key to this growth, contributing 1.5 million additional passengers, with Colombia as the main driver, contributing 26% of the total increase.

“The breakdown by market reiterates the encouraging trend of March: the domestic market experienced a growth of 2.4%, while the international market stood out with an impressive increase of 14%,” highlights José Ricardo Botelho, executive director and CEO of ALTA. “The data shows that demand continues to rise. If we look at the first quarter of the year, we see that 120.8 million passengers were transported, an increase of 9% compared to the first quarter of 2023. Aviation has no longer been a luxury for a long time, it is an essential means of transportation for the population." Botelho elaborates.

Mexico domestic market declines

During March, Brazil's domestic market moved 7.5 million passengers, an increase of 1% compared to the previous year. The route between Brasilia (BSB) and Sao Paulo (CGH) was the one with the greatest growth, with 13% more passengers transported, while the busiest route, Sao Paulo (CGH) - Rio de Janeiro (SDU), experienced a decrease in 5%.

In Colombia, domestic passenger traffic grew 9.3%, reaching 2.6 million passengers. The route between Bogotá (BOG) and Pereira (PEI) stood out with an increase of 58%, registering 1,264 frequencies in March. Additionally, during this month, the country saw a significant increase in seating capacity in the domestic market.

In Mexico, domestic traffic decreased 7%, totaling 4.9 million passengers. However, the route between Saint Lucia (NLU) and Cancún registered a growth of 56%.

Argentina showed a moderate growth of 1% in its domestic market, while Chile showed an increase of 6%, highlighting the Calama (CJC) - La Serena (LSC) route with an increase of 57%.

Venezuela and Panama also experienced significant increases in their domestic traffic, with increases of 30% and 52%, respectively.

International market of Colombia and Venezuela takes flight

In March 2024, Colombia experienced a 32.3% growth in international air traffic, transporting a total of 1.8 million passengers. Brazil also saw a significant increase of 22%, recording 2.01 million passengers carried during the month. The Dominican Republic increased its international traffic 13%, reaching 1.8 million passengers.

Mexico saw a 12% increase in international passengers, while Argentina and Chile saw increases of 17% and 24%, respectively. Venezuela led international growth with 68%.

In the accumulated of the year, Venezuela stood out with a percentage increase in significant traffic of 60%. “This is an extremely relevant figure, but we assume that in absolute numbers there is still work to do. That is why ALTA is working with local authorities to promote the most efficient measures that enhance the air sector in the country,” says Botelho.

The ALTA CEO reiterates that it is crucial that the region's governments recognize the strategic importance of the aviation industry and promote close collaboration to guarantee sustainable growth for an essential sector. Greater investment is needed in infrastructure and efficient regulation that promotes competitiveness and operational efficiency.

Source: ALTA.

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