Global passenger demand rebounded in February following the slower month in January, according to figures released by the International Air Transport Association (IATA).
Total revenue passenger kilometers (RPKs) for the month rose 7.6 per cent, compared to February 2017, up from 4.6 per cent year-over-year (YOY) growth in January.
Monthly capacity (available seat kilometers or ASKs) increased by 6.3 per cent, and load factor rose 0.9 percentage point to 80.4 per cent, surpassing the previous record for the month of 79.5 per cent, which was set in February 2017.
February international passenger demand rose 7.2 per cent compared to February 2017, which was up from the 4.2 per cent increase recorded in January.
Domestic travel demand rose 8.2 per cent in February compared to February 2017, up from 4.9 per cent YOY growth in January, with all markets reporting increases, led by India and China.
IATA’s director general and chief executive officer, Alexandre de Juniac (pictured above) said: “As expected, we saw a return to stronger demand growth in February, after the temporary slowdown in January.
“This is being supported by the robust economic backdrop and solid business confidence. However, increases in fuel prices and labor costs in some countries – likely will temper the amount of traffic stimulation from lower airfares this year.”