The International Air Transport Association (IATA) released data on global passenger demand in November 2024 with the following highlights:
Total demand, measured in passenger kilometres (RPK), increased 8.1% compared to November 2023. Total capacity, measured in available seat kilometres (ASK), increased 5.7% year-over-year. November load factor was 83.4% (+1.9 ppt compared to November 2023), an all-time high for November.
International demand increased by 11.6% compared to November 2023. Capacity increased by 8.6% year-on-year and load factor was 83.4% (+2.3 ppt compared to November 2023). Strong airline performance in Europe and Asia-Pacific drove this double-digit expansion in demand.
Domestic demand increased by 3.1% compared to November 2023. Capacity increased by 1.5% year-on-year and the load factor was 83.5% (+1.2 ppt compared to November 2023).
“November was another month of strong growth in air travel demand, with overall expansion up 8.1%. The month was also another reminder of the supply chain issues preventing airlines from getting the aircraft they need to meet rising demand. Capacity growth is lagging demand by 2.4 percentage points and load factors are at record levels. Airlines are missing opportunities to better serve customers, modernize their products and improve their environmental performance because aircraft are not being delivered on time. The 2025 New Year’s resolution for the aerospace manufacturing sector should be to find a quick and lasting solution to its supply chain issues,” said Willie Walsh, IATA’s Director General.
Regional breakdown: international passenger markets
All regions showed growth for international passenger markets in November 2024 compared to November 2023. Europe had the highest load factors (85.0%), while Asia-Pacific led growth with a 19.9% year-over-year expansion in demand.
Asia-Pacific airlines achieved a year-on-year increase in demand of 19.9%. Capacity increased by 16.2% year-on-year and load factor was 84.9% (+2.6 ppt compared to November 2023).
European airlines recorded a year-on-year increase in demand of 9.4%. Capacity increased by 7.1% year-on-year and load factor was 85.0% (+1.8 ppt compared to November 2023).
Middle East airlines reported a year-on-year increase in demand of 8.7%. Capacity increased by 3.9% year-on-year and load factor was 81.0% (+3.6 ppt compared to November 2023).
North American airlines reported a year-on-year increase in demand of 3.1%. Capacity increased by 1.6% year-on-year and load factor was 81.0% (+1.1 ppt compared to November 2023).
Latin American airlines recorded a year-on-year increase in demand of 11.4%. Capacity increased by 11.9% year-on-year. Load factor stood at 84.4% (-0.4 ppt compared to November 2023).
African airlines recorded a year-on-year increase in demand of 12.4%. Capacity increased by 6.0% year-on-year. Load factor increased to 72.9% (+4.1 ppt compared to November 2023).
Domestic passenger markets
Domestic RPK increased 3.1% year-over-year, slowing slightly from the 3.5% growth recorded in October. Signs of stable growth were shown in all markets except the US, which recorded a 2.7% contraction, deeper than the 1.2% year-over-year decline recorded in October. This is part of a slowing trend in the US domestic market since June 2024 and primarily reflects lower activity by low-cost carriers. US major airlines have continued to see growth over the same period.
Source: IATA.