Global Air Passenger, Cargo Demand Shows Strong Growth in August
Date
10/5/2024 8:14:01 AM
(MENAFN) According to a report released by the International Air transport Association (IATA) on Thursday, total air passenger demand worldwide experienced a significant increase of 8.6% in August compared to the same month last year. This upward trend in demand highlights a continuing recovery in the Aviation sector, as more travelers take to the skies amid improving global conditions.
In terms of capacity, which is measured in available seat kilometers, there was also a notable rise of 6.5% year-on-year in August. The load factor, an essential metric for airline profitability, reached an impressive 86.2%, marking a record high for this period. These figures suggest that airlines are successfully maximizing their capacity while accommodating the growing number of passengers.
Breaking down the data further, international air travel saw a substantial increase in demand, climbing by 10.6% over the same period. Meanwhile, domestic travel also showed positive momentum, with a rise of 5.6%. These statistics reflect a robust recovery in both international and domestic markets, as travelers increasingly feel confident to fly again.
The IATA also highlighted strong growth in the global air cargo sector, which continues to thrive. Total demand, measured in cargo ton-kilometers, increased by 11.4% in August compared to the same month last year. This growth in air cargo demand underscores the ongoing importance of air transport for global trade and logistics, further contributing to the overall strength of the aviation industry.
MENAFN05102024000045015839ID1108749112
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.