Middle Eastern airlines saw a 10.8 per cent year-on-year passenger demand increase in March as globally the aviation sector recorded a 13.9 per cent surge year-on-year.
The International Air Transport Association (Iata) data shows that the regional carriers also reported the strongest growth at 19.9 per cent year-on-year, with significant expansion in the Middle East–Europe market. March capacity increased by 10.6 per cent year-on-year.
“Total demand globally, measured in revenue passenger kilometers (RPKs), was up 13.8 per cent compared to March 2023. Total capacity, measured in available seat kilometers (ASK), was up 12.3 per cent year-on-year. The March load factor was 82 per cent.
Willie Walsh, Iata’s director-general, said demand for travel is strong and there is every indication that this should continue into the peak northern summer travel season.
“It is critical that we have the capacity to meet this demand and ensure a hassle-free travel experience for passengers. That means making urgent progress to resolve supply chain issues and for airports and air traffic management to be fully staffed and operating at maximum efficiency. While airlines are prepared for customer care and assistance when operational issues arise, they are fed-up of bearing the cost when delays and cancellations are the result of poor preparation in other parts of the value chain,” said Walsh.
While international passenger demand rose 18.9 per cent compared to March 2023 domestic passenger demand rose 6.6 per cent. International capacity was up 18.8 per cent year-on-year and the load factor improved to 81.6 per cent domestic capacity rose 3.4 per cent year-on-year and the load factor was 82.6 per cent, said Iata, which represents some 320 airlines comprising 83 per cent of global air traffic.
Walsh said Air cargo demand surge of 10.3 per cent contributed to a strong first quarter performance which slightly exceeded even the exceptionally strong 2021 first quarter performance during the Covid crisis. “With global cross-border trade and industrial production continuing to show a moderate upward trend, 2024 is shaping up to be a solid year for air cargo.”
Global cross-border trade and industrial production increased by 1.2 per cent and 1.6 per cent respectively in February.
The manufacturing output Purchasing Managers’ Index (PMI) climbed to 51.9 in March, indicating expansion. However, the new export orders PMI remained slightly below the 50 threshold indicating growth expectations, rising to 49.5.