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Asia-Pacific driving industry growth reports global airline association
July 4th 2024
The region’s carriers continue to dominant growth, recording a 27% year-on-year increase in revenue passenger kilometers for May, International Air Transport Association (IATA) data shows. Read More » Capacity increased 26.0% compared with a year ago and load factor was 81.6%, +0.6 percentage point improvement against the same month in 2023. The performance confirmed Asia’s carriers as the largest contributors to industry-wide growth, accounting for 42% of the year-on-year increase, IATA’s latest monitor said. Global demand was up 10.7% compared with May 2023 and total capacity was higher by 8.5% over May last year. Load factor for the 31 days was 83.4%, a record high for the month of May in the annual cycle. “With May ticket sales for early peak season travel up nearly 6%, the growth trend shows no sign of abating. Airlines are doing everything they can to ensure smooth journeys for all travelers over the peak northern summer period,” IATA director general, Willie Walsh, said.
