IATA reports strong global passenger demand growth in November 2024 with record load factors

The International Air Transport Association (IATA) released data for November 2024 global passenger demand with the following highlights:

•    Total demand, measured in revenue passenger kilometres (RPK), was up 8.1% compared to November 2023. Total capacity, measured in available seat kilometres (ASK), was up 5.7% year-on-year. The November load factor was 83.4% (+1.9 ppt compared to November 2023), an all-time high for November.

•    International demand rose 11.6% compared to November 2023. Capacity was up 8.6% year-on-year, and the load factor was 83.4% (+2.3 ppt compared to November 2023). Strong performance by carriers in Europe and Asia-Pacific drove this double-digit expansion in demand.

•    Domestic demand rose 3.1% compared to November 2023. Capacity was up 1.5% year-on-year and the load factor was 83.5% (+1.2 ppt compared to November 2023).

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 on growth with a 19.9% year-on-year expansion in demand. 

Asia-Pacific airlines achieved a 19.9% year-on-year increase in demand. Capacity increased 16.2% year-on-year and the load factor was 84.9% (+2.6 ppt compared to November 2023).

European carriers had a 9.4% year-on-year increase in demand. Capacity increased 7.1% year-on-year, and the load factor was 85.0 % (+1.8 ppt compared to November 2023).

Middle Eastern carriers saw an 8.7% year-on-year increase in demand. Capacity increased 3.9% year-on-year and the load factor was 81.0% (+3.6 ppt compared to November 2023).

North American carriers saw a 3.1% year-on-year increase in demand. Capacity increased 1.6% year-on-year, and the load factor was 81.0% (+1.1 ppt compared to November 2023).

Latin American airlines saw an 11.4% year-on-year increase in demand. Capacity climbed 11.9% year-on-year. The load factor was 84.4% (-0.4 ppt compared to November 2023).

African airlines saw a 12.4% year-on-year increase in demand. Capacity was up 6.0% year-on-year. The load factor rose to 72.9% (+4.1 ppt compared to November 2023).

Domestic Passenger Markets

Domestic RPK increased 3.1% over the previous year, decelerating slightly from the 3.5% growth posted in October. Signs of stable growth were shown in all markets except in the US which saw a 2.7% contraction, deeper than the 1.2% year-on-year dip recorded in October. This is part of a slowing trend in the US domestic market since June 2024 and mainly reflects lower low-cost carrier activity. US mainline carriers have continued to see growth over the same period. 

Check out more data here.