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International Air Transport Association (IATA) announced global passenger traffic results for March 2018, showing that demand (measured in revenue passenger kilometres, or RPKs) rose 9.5 percent, compared with the same month a year ago, the fastest pace in 12 months.
Capacity (available seat kilometres, or ASKs) grew 6.4 percent and load factor climbed 2.3 percentage points to 82.4 percent, which set a record for the month, following on the record set in February. All regions except for the Middle East posted record load factors.
“Demand for air travel remains strong, supported by the comparatively healthy economic backdrop and business confidence levels. But rising cost inputs—particularly fuel prices—suggest that any demand boosts from lower fares will moderate going into the second quarter,” Alexandre de Juniac, IATA’s director-general/CEO, said.
March international passenger demand rose 10.6 percent compared with March 2017, which was up from 7.4 percent year-over-year growth recorded in February. All regions showed strong increases. Total capacity climbed 6.6 percent, and load factor improved 2.9 percentage points to 81.5 percent.
African airlines continued to enjoy very strong demand as well, with traffic up 11.2 percent compared with March 2017, which was more than twice the five-year average pace of 4.8 percent. Airlines here are seeing healthy growth on routes to/from Europe and Asia, while the region’s two largest economies—Nigeria and South Africa—continue to improve. Capacity climbed 6.7 percent, and load factor strengthened 2.9 percentage points to 71 percent.
Domestic demand rose 7.8 percent in March, which was a slight deceleration from 8.2 percent growth recorded in February, driven primarily by developments in the US market. Domestic capacity climbed 6.2 percent, and load factor lifted 1.3 percentage points to 84 percent.
Asia-Pacific airlines’ traffic soared 11.6 percent in March, compared with the year-ago period. Passenger traffic is continuing to trend upwards, supported by strong regional economic growth and ongoing expansion in the number of airport-pair options for travellers. Capacity increased 8.2 percent, and load factor rose 2.5 percentage points to 80.9 percent.
European carriers saw March traffic climb 9.8% over March 2017, up from 6.9% annual growth in February. Business confidence in the most-open countries in the region has been hit by trade tensions in recent months, but economic conditions remain broadly supportive.
As with Asia-Pacific region, demand is also being stimulated by increases in the number of nonstop airport-pairs. March capacity rose 6.4% and load factor was up 2.6 percentage points to 84.6%, highest among regions.
Middle East carriers’ traffic jumped 10.7% in March, much improved from the 4.1% year-over-year increase recorded in February. This reflects healthy growth in the market between the Middle East and Asia. Demand also shows signs of stabilisation on Middle East to North America routes, following the disruption caused in the first half of 2017 by the now-lifted ban on large portable electronic devices, as well as a wider impact stemming from the proposed travel restrictions to the US. Capacity increased 4.3%, and load factor jumped 4.4 percentage points to 76.7%.
