The International Air Transport Association (IATA) released the 2024 full-year and December passenger market performance report, revealing record-high demand. Total full-year traffic in 2024, measured in revenue passenger kilometers (RPKs), increased by 10.4% compared to 2023, surpassing pre-pandemic 2019 levels by 3.8%. Capacity, measured in available seat kilometers (ASK), rose by 8.7%, while the overall load factor reached a record 83.5%.
International traffic for the year climbed 13.6% over 2023, with capacity rising 12.8%. Domestic passenger traffic increased 5.7%, with capacity expanding by 2.5%. December 2024 ended the year on a strong note, with overall demand growing 8.6% year-on-year, international demand rising 10.6%, and domestic demand increasing 5.5%. Capacity grew by 5.6%, and the load factor for December reached 84%, setting a record for the month.
According to Willie Walsh, IATA’s Director General, the results confirm a strong global desire for travel, with 2024 marking a historic high in demand. Airlines operated with record efficiency, with an average seat occupancy of 83.5%, partly due to supply chain constraints limiting capacity expansion. The aviation industry’s growth impacts economies worldwide by generating employment, fostering market development, and encouraging trade, innovation, and exploration.
Looking ahead to 2025, demand is expected to continue growing at a moderated pace of 8.0%, aligning more closely with historical averages. Walsh emphasized two key challenges: the imperative of maintaining aviation safety, particularly in light of the tragic accident in Washington, and the industry’s commitment to achieving net zero carbon emissions by 2050. Airlines made record investments in Sustainable Aviation Fuel (SAF) in 2024, yet SAF accounted for less than 0.5% of total fuel consumption. Increasing SAF supply and reducing costs require governmental support, including prioritizing renewable fuel production and reallocating subsidies from fossil fuel extraction to renewable energy initiatives, which would also enhance energy security and economic growth.
Full-year international passenger traffic in 2024 exceeded the previous 2019 peak by 0.5%, with growth recorded in all regions. Capacity remained 0.9% below 2019 levels, while the load factor reached a record 83.2%, improving by 0.5 percentage points. December 2024 saw international demand rise 10.6%, capacity expand 7.7%, and the load factor improve by 2.2 percentage points year-on-year to 83.9%.
Asia-Pacific airlines recorded the highest year-over-year growth, with international traffic rising 26.0% compared to 2023. Capacity increased 24.7%, and the load factor improved by 0.8 percentage points to 83.8%. Despite strong recovery, international RPKs in the region remained 8.7% below 2019 levels. December traffic in Asia-Pacific grew 17.1% over the same month in 2023.
European carriers saw full-year traffic rise by 9.7% compared to 2023, with capacity increasing 9.2% and the load factor improving by 0.4 percentage points to 84.1%. December demand was up 8.6% from the prior year. Middle Eastern airlines experienced a 9.4% increase in traffic, with capacity growing 8.4% and load factor rising 0.7 percentage points to 80.8%. December demand climbed 7.7% year-on-year.
North American carriers reported a 6.8% increase in annual traffic, with capacity growing 7.4%, though the load factor declined by 0.5 percentage points to 84.2%. December traffic rose 5.1% over the year-ago period. Latin American airlines posted a 14.4% increase in traffic for the year, with capacity expanding 14.3% and the load factor increasing by 0.1 percentage points to 84.8%, the highest among all regions. December demand rose 11.3% compared to 2023.
African airlines recorded a 13.2% rise in annual traffic, with capacity increasing 9.5% and the load factor improving by 2.5 percentage points to 74.5%, the lowest among regions but still a record high for Africa. December traffic for African carriers increased by 12.4% over December 2023.
Domestic passenger markets also reached record highs in passenger numbers and load factors in 2024. China led domestic RPK growth with a 12.3% increase over 2023, while other major domestic markets showed steady growth. Japan saw a 3.2% increase in domestic traffic despite a slight 0.3% contraction in capacity. India was the only major domestic market to experience a decline in load factor, dropping by 0.6 percentage points, but it still achieved the highest domestic load factor of 86.4%.
