IATA reports that global passenger traffic results for February indicate a rebound in traffic growth following the slower demand experienced in January, which was owing to temporary factors including the later timing of the Lunar New Year in 2018.
Total revenue passenger kilometers (RPKs) for the month rose 7.6%, compared to February 2017, up from 4.6% year-over-year growth in January. Monthly capacity (available seat kilometers or ASKs) increased by 6.3%, and load factor rose 0.9 percentage point to 80.4%, surpassing the previous record for the month of 79.5%, which was set in February 2017.
Alexandre de Juniac, director general and CEO for IATA, 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.”