By Edwin Nwachukwu
Geneva – The International Air Transport Association (IATA) has released the 2024 full-year and December 2024 passenger market performance showing record high demand.
IATA, in a statement, said that total full-year traffic in 2024 (measured in revenue passenger kilometers or RPKs) rose 10.4% compared to 2023.
According to it, this was 3.8% above pre-pandemic (2019) levels, saying that total capacity, measured in available seat kilometers (ASK), was up 8.7% in 2024.
IATA added that the overall load factor reached 83.5%, a record for full-year traffic.
It also stated that international full-year traffic in 2024 increased 13.6% compared to 2023, and capacity rose 12.8%.
IATA explained that domestic full-year traffic for 2024 rose 5.7% compared to the prior year, while capacity expanded by 2.5%.
It said that December 2024 was a strong finish to the year with overall demand rising 8.6% year-on-year, and capacity grew by 5.6%. International demand rose by 10.6% and domestic demand by 5.5%. The December load factor reached 84%, a record for the month.
“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. Aviation growth reverberates across societies and economies at all levels through jobs, market development, trade, innovation, exploration, and much more,” said Willie Walsh, IATA’s Director General.
“Looking to 2025, there is every indication that demand for travel will continue to grow, albeit at a moderated pace of 8.0% that is more aligned with historical averages. The desire to partake in the freedom that flying makes possible brings some challenges into sharp focus. First, the tragic accident in Washington last night reminds us that safety needs our continuous efforts. Our thoughts are with all those affected. We will never cease our work to make aviation ever safer.
”Second is the airlines’ firm commitment to achieve net zero carbon emissions by 2050. While airlines invested record amounts in purchases of Sustainable Aviation Fuel (SAF) in 2024, less than 0.5% of fuel needs were meet with SAF. SAF is in short supply and costs must come down. Governments could fortify their national energy security and unblock this problem by prioritizing renewable fuel production from which SAF is derived. In addition to securing energy supplies and increasing the SAF supply, diverting a fraction of the subsidies given for fossil fuel extraction to support renewable energy capacity would also boost prosperity through economic expansion and job creation,” said Walsh.
