TBM Staff - Mumbai The International Air Transport Association (IATA) has revealed robust global passenger traffic data for October 2024, highlighting significant growth in Asia and India.
Asia-Pacific Region: Passenger demand surged by 17.5% compared to October 2023, outperforming all other regions. Capacity increased by 17.2%, with a load facAtor reaching 82.9%. This rapid growth underscores the region’s recovery and dominance in global aviation.
India’s Domestic Market: Despite a 6.1% increase in demand, India’s domestic load factor dipped by 2.7 percentage points to 81.7%. This suggests rising capacity but highlights the need for efficient optimization to sustain profitability.
China’s Expansion: Driven by the introduction of wide-body aircraft, China’s domestic market demand climbed by 9.7%, with a robust load factor of 86.2%.
Global Overview: Total worldwide passenger demand rose by 7.1% year-on-year, with international markets witnessing a 9.5% uptick. The global load factor reached an impressive 83.9%, reflecting airlines’ efficiency improvements.
Willie Walsh, IATA’s Director General, emphasised the importance of maintaining full planes for economic and environmental efficiency, warning against passenger tax policies that could undermine decades of progress in aviation emissions reductions.
Implications for Asia and India
Asia’s prominence in driving global aviation recovery is clear, particularly as India and China emerge as key players. As domestic markets stabilize, infrastructure improvements and strategic fleet management will be vital for sustaining growth.
