The intraregional international market, which includes international travel within Latin America and the Caribbean (LAC), was the one with the highest percentage growth in May 2024, in contrast to the domestic and international extraregional market, reaching 4.45 million passengers, 13.2% more compared to May 2023.
In the cumulative period from January to May, the intraregional international market also registered the highest percentage growth, with an increase of close to 17%.
It is important to note that this segment was the only one that, until July 2023, had not managed to exceed pre-pandemic levels, and also showed a 6% growth compared to 2019, during this month.
This growth reflects a robust recovery and growing demand for connections within the region, where there is great growth potential.
“These are significant achievements that demonstrate the essential role of aviation in our region, the resilience of the industry, as well as the work of thousands of men and women. The important contribution of this sector to the life of the population still has enormous potential, which is why we call on governments to include aviation in their State agendas,” highlights José Ricardo Botelho, executive director and CEO of ALTA.
This report specifies that in May 2024, passenger traffic to, from and within Latin America and the Caribbean increased by 5.3%, mobilizing 38.1 million people, 1.9 million additional travelers compared to May 2023. Between January and May, 197.2 million passengers have been mobilized, 8% more compared to the previous year.
In the year-to-date (January-May 2024), 197.2 million passengers have been transported from, to and within the region, an 8% growth in total demand, measured in passenger-kilometers transported (RPK), which grew by 7%. Once again, the intraregional segment stands out with an increase of 14.7%.
Domestic markets in Colombia and Peru, along with traffic between Mexico and the United States, accounted for more than 50% of total growth, adding 1.07 million passengers to the region. In percentage terms, Venezuela and Costa Rica stood out with increases of 37% and 19%, respectively, according to the report.
Half of the region's total traffic was accounted for by the extra-regional segment, which grew by 7.8%, reaching 13 million passengers. This growth was driven mainly by the Costa Rica-United States (+26%) and Panama-United States (+22%) markets, with 5,675 additional flights between North America and the region.
Likewise, in the extra-regional sphere, key markets in North America and Europe reached their highest capacity since 2019 in May. Traffic between Latin America and Europe increased by 9%, with 828 additional flights. Traffic between Latin America and Africa also showed great dynamism, with an increase of 72% and the addition of 88 additional frequencies.
Colombia leads domestic traffic for the second consecutive month
Total domestic traffic in the region increased by 2.2%, reaching 20.6 million passengers. Colombia led domestic traffic in LAC for the second consecutive month, with a 20% increase in passengers. It was also the domestic market with the largest increase in absolute terms, with 449,000 additional passengers.
Chile, Venezuela, and Panama also showed increases in domestic traffic, while Brazil, Mexico, and Argentina registered declines.
Specifically, Chile increased 5.8% to reach 1.2 million passengers. Venezuela increased 21%, transporting 196,472 passengers and Panama's internal traffic grew 38% to 31,125 passengers.
Brazil, Mexico and Argentina did not fare as well. Brazil moved 7.2 million passengers and recorded 61,600 flights, a decrease of 1.6% and 6%, respectively, compared to May 2023.
In Mexico, domestic traffic remained 1% below 2023 levels. However, this month saw the highest domestic traffic in the country, with 5.2 million travelers, 34,000 fewer than the previous year.
In Argentina, domestic traffic fell by 23.2% for the second consecutive month, equivalent to 138,000 fewer passengers than in May 2023, with a total of 1.3 million travelers and a 21% drop in the number of domestic frequencies, representing 2,228 fewer flights. This decrease is due, in part, to the decrease of 274,000 passengers at Aeroparque airport, which accounted for almost 40% of domestic traffic, with a reduction of 26%.
“In some domestic markets we see how the political climate, unilateral decisions and economic and social tensions affect the growth and good performance of industries such as aviation, whose operations are subject to fluctuations in fuel prices and currency exchange adjustments, to name two elements. Everything is connected, which is why the public and private sectors must work together for the benefit of our economies,” explains Botelho.
Source: ALTA.