While the full data for 2024 is not yet out, the numbers for the year to Nov show demand for flying continues to increase, however, aviation is unable to meet its full potential while supply chain issues persist, leading one industry leader to call for a New Year’s resolution for the aerospace manufacturing sector of finding a fast and durable solution for such issues.
For the month of Nov, IATA says total demand, measured in revenue passenger kms, was up 8.1% on Nov 2023 with capacity up 5.7% year-on-year. The passenger load factor for the month under review was 83.4%, up 1.9 percentage points year-on-year.
International demand rose 11.6%, driven by strong performance by carriers in Europe and Asia-Pacific, whilst domestic demand rose 3.1% compared to Nov 2023. And whilst IATA welcomes another month of growth, its director general Willie Walsh says the month was also another reminder of the supply chain issues that are preventing airlines from getting the aircraft they need to meet growing demand.
“Capacity growth is lagging demand by 2.4 percentage points and load factors are at record levels,” he explains. “Airlines are missing out on opportunities to better serve customers, modernise their products and improve their environmental performance because aircraft are not being delivered on time.”
. . . Regions
All regions showed growth for international passenger markets compared to Nov 2023, with Asia-Pacific leading growth with a 19.9% year-on-year expansion in demand. African airlines sat in second for growth, with demand up some 12.4% year-on-year, while Latin American airlines saw an 11.4% increase, European carriers a 9.4% increase and Middle Eastern carriers an 8.7% increase. At the bottom of the list were North American carriers, with a 3.1% year-on-year increase in demand. Air cargo total demand rose by 8.2% compared to Nov 2023 levels for a 16th consecutive month of growth, while capacity increased by 4.6%.
