In 2024, airlines globally achieved record seat occupancy in 2024, with an 83.5% load factor for the full year, according to the December 2024 passenger market performance report released by the International Air Transport Association (IATA).
The report said the increase reflects the percentage of available seats filled with paying passengers and demonstrating how efficiently airlines utilised their capacity.
International passenger traffic reached new highs, growing 13.6 % YoY while airspace restrictions reshaped the global network.
Revenue Passenger-Kilometer (RPK) also increased by 10.4% year-on-year.
Willie Walsh, IATA’s Director General, attributed the new record-high load factor airlines achieved in 2024 partially to the supply chain constraints that limited capacity growth, forcing airlines to optimize the available seating.
“2024 made it absolutely clear that people want to travel. With 10.4% demand growth, travel reached record numbers domestically and internationally. Airlines met that strong demand with record efficiency. On average, 83.5% of all seats on offer were filled—a new record high, partially attributable to the supply chain constraints that limited capacity growth,” the report quoted Walsh saying.
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The report further highlighted that, alongside the full-year load factor and passenger demand growth data, global airlines’ capacity increased by 8.7% in 2024. Airline capacity, which refers to the total number of seats available for passengers, played a crucial role in this growth.
IATA also reported a 13.6% increase in international full-year traffic compared to 2023, with capacity rising by 12.8%. Domestic traffic grew by 5.7%, while capacity expanded by 2.5%.
December 2024 marked a strong finish to the year, with overall demand rising by 8.6% year-on-year and capacity increasing by 5.6%. International demand grew by 10.6%, while domestic demand rose by 5.5%. The December load factor reached a record 84%.
For December, international demand increased by 10.6%, capacity grew by 7.7%, and the load factor improved by 2.2 percentage points to 83.9%, compared to December 2023.
The IATA report also provided a regional breakdown of airline performance for both the full year and December 2024.
Asia-Pacific airlines led the charge, posting a 26.0% increase in international traffic compared to 2023, maintaining the highest year-over-year growth among all regions. Capacity rose by 24.7%, and load factor improved by 0.8 percentage points to 83.8%.
European carriers also saw robust performance, with full-year traffic climbing by 9.7% over 2023. Capacity grew by 9.2%, and load factor rose by 0.4 percentage points to 84.1%. December demand increased by 8.6% compared to the same month in 2023.
Middle Eastern airlines reported a 9.4% rise in annual traffic, with capacity expanding by 8.4%. The region’s load factor increased by 0.7 percentage points to 80.8%. December traffic grew by 7.7% year-over-year.
North American carriers recorded a 6.8% increase in full-year traffic, while capacity grew by 7.4%. However, the load factor decreased by 0.5 percentage points to 84.2%. For December 2024, traffic rose by 5.1% compared to the same month in 2023.
Latin American airlines posted a strong 14.4% rise in annual traffic, with a 14.3% increase in capacity. The region’s load factor grew marginally by 0.1 percentage points to 84.8%, the highest among all regions. December demand surged by 11.3% compared to the previous year.
African airlines saw a 13.2% increase in annual traffic, while capacity rose by 9.5%. Load factor jumped by 2.5 percentage points to 74.5%, marking a record high for the region, though still the lowest globally. December 2024 traffic for African airlines increased by 12.4% over the same month in 2023.
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