Global passenger demand continues to rise

IATA is reporting that global passenger demand continued to rise in July 2024. The industry association’s latest data indicates that:

•  Total demand, measured in revenue passenger kilometers (RPK), was up 8.0% compared to July 2023. Total capacity, measured in available seat kilometers (ASK), was up 7.4% year-on-year. The July load factor was 86.0% (+0.5ppt compared to July 2023). There was no significant negative demand impact from the CrowdStrike IT outage on 19 July.
• International demand rose 10.1% compared to July 2023. Capacity was up 10.5% year-on-year and the load factor fell to 85.9% (-0.3ppt compared to July 2023).
•  Domestic demand rose 4.8% compared to July 2023. Capacity was up 2.8% year-on-year and the load factor was 86.1% (+1.7ppt compared to July 2023).

Willie Walsh, IATA’s Director General, said that: “July was another positive month. In fact, passenger demand hit an all-time high for the industry and in all regions except Africa, despite significant disruption caused by the CrowdStrike IT outage.”

Walsh continued: “The winding down of the peak northern summer season is a reminder of how much people depend on flying. As the mix of travellers shift from leisure to business, aviation’s many roles are evident—reuniting families, enabling exploration, and powering commerce.”

IATA’s boss observed that: “People need and want to fly. And they are doing that in great numbers. Load factors are at the practicable maximum. But persistent supply chain bottlenecks have made deploying the capacity to meet the need to travel more challenging.”

And he added: “As much of the world returns from vacation, there is an urgent call for manufacturers and suppliers to resolve their supply chain issues so that air travel remains accessible and affordable to all those who rely on it.”