IATA: Strong air travel growth continues

Saturday, 06 Jul, 2023 0

Global air travel continued its climb back to a full recovery, according to the International Air Transport Association’s May 2023 traffic data report.

Total passenger traffic in May 2023 (measured in revenue passenger kilometers or RPKs) rose 39.1% compared to May 2022.

Globally, traffic is now at 96.1% of May 2019 (pre-pandemic) levels.

Domestic passenger traffic was up 36.4% compared to a year-ago and is now 5% above pre-pandemic.

IATA says International traffic is back to 90.8% of pre-pandemic levels.

Notably, the North America and Middle East regions have surpassed pre-Covid passenger traffic numbers.

The total industry load factor rose to 81.8%.

“Heading into the busy Northern summer travel season, international demand reached 90.8% of pre-pandemic levels,” said Willie Walsh, IATA’s Director General.

North American carriers’ have the highest average load factor at over 85%.

Europe is just marginally lower, while Asia Pacific is at 80%.

APAC airlines had a 156.7% increase in May 2023 traffic compared to a year earlier.

“The strong demand for travel is one element supporting a return to profitability by airlines,” Walsh added.

IATA expects airlines globally to post a $9.8 billion net profit in 2023.

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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.

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