IATA: Passenger demand grows

IATA: Passenger demand grows

The International Air Transport Association (IATA) says just released global passenger traffic data for October 2019 shows that demand (measured in total revenue passenger kilometers or RPKs) climbed 3.4% compared to the same period a year ago.

 

This was a modest slowdown from 3.9% growth recorded in September, owing to softer traffic performance in domestic markets. October capacity (available seat kilometers or ASKs) increased by 2.2% and load factor climbed 0.9 percentage point to 82.0%, which was a record for October. ‘Traffic growth continues to be depressed compared to historical long-term growth levels, reflecting continued moderating economic activity in some key markets and sagging business confidence.

 

However, the fact that traffic is growing is a positive, and the industry continues to do an excellent job of maximising asset efficiency, as shown in the record load factor,’ says Alexandre de Juniac, IATA’s director general and CEO. Asia-Pacific airlines’ October traffic increased 3.8% compared to the year-ago period, a bit below the 4.0% annual growth recorded in September and well down on 2018 growth. IATA says this is largely owing to weaker business confidence in a number of key markets, the impact of the US-China trade war and the recent disruptions in Hong Kong. Capacity rose 2.7% and load factor edged up 0.9% to 79.6%.

ProMag