Aviation View - March 2024

REGIONAL BREAKDOWN - INTERNATIONAL PASSENGER MARKETS All regions showed double-digit growth for international passenger markets in February 2024 compared to February 2023.For the first time,demand for international services exceeded pre-pandemic levels (+0.9% compared to February 2019). This, however, is skewed by February 2024 being a leap-year with an extra day compared to February 2023. Asia-Pacific airlines saw a 53.2% year-on-year increase in demand. Capacity increased 52.1% year-on-year and the load factor rose to 84.9% (+0.6ppt compared to February 2023), the highest among all regions. European carriers saw a 15.9% year-on-year increase in demand. Capacity increased 16.0% year-on-year, and the load factor was 74.7% (flat compared to February 2023). Middle Eastern airlines saw a 19.7% year-on-year increase in demand. Capacity increased 19.1% year- on-year and the load factor rose to 80.8% (+0.4ppt compared to February 2023). North American carriers saw a 16.0% year-on-year increase in demand. Capacity increased 17.6% year-on- year, and the load factor fell to 77.7% (-1.1ppt compared to February 2023). Latin American airlines saw a 21.0% year-on-year increase in demand. Capacity climbed 18.6% year-on- economic recovery with uncompetitive tax proposals,” said Willie Walsh, IATA’s Director General. AIR PASSENGER MARKET IN DETAIL - FEBRUARY 2024 February 2024 (% year-on-year) World share 1 RPK ASK PLF (%-pt) PLF (level) Total Market 100% 21.5% 18.7% 1.9% 80.6% Africa 2.1% 22.5% 24.3% -1.1% 74.4% Asia Pacific 31.7% 37.8% 30.1% 4.7% 84.4% Europe 27.1% 14.8% 14.6% 0.2% 76.1% Latin America 5.5% 13.0% 10.8% 1.6% 82.7% Middle East 9.4% 19.7% 18.8% 0.6% 80.8% North America 24.2% 8.9% 8.8% 0.0% 79.5% 1% of industry RPKs in 2023 year. The load factor rose to 84.2% (+1.7ppt compared to February 2023). African airlines saw a 20.7% year-on-year increase in demand. Capacity was up 22.1% year-on-year. The load factor fell to 74.0% (-0.8ppt compared to February 2023). 6 AVIATION VIEW MAGAZINE VOLUME 04, ISSUE 01