IATA – Air Passenger Market Analysis, Feb 2024

In February 2024, the global airline industry achieved full recovery in total passenger traffic, surpassing 2019 levels by 5.7%. Revenue Passenger-Kilometers (RPK) grew by 21.5% year-on-year (YoY), with both domestic and international traffic showing significant growth. Domestic traffic increased by 13.7% over 2019 levels, driven by strong performance in major markets and the Lunar New Year travel period in PR China. International traffic was 0.9% higher than 2019 figures, with an annual growth of 26.3%. Asia Pacific led in growth, with a comeback in international travel. Ticket sales spiked before the Lunar New Year, followed by stabilisation in March, indicating resilient demand for air travel. Overall, industry-wide traffic surpassed pre-pandemic levels, with passenger load factors approaching pre-Covid levels. The strong recovery in all regions and major markets, along with high demand during the Lunar New Year, contributed to the positive outcome.