Passenger Traffic Maintains Strong Growth
The International Air Transport Association (IATA) reports global passenger traffic results for October showing a strengthening in demand growth compared to September 2014 and to the year-ago period.
Total revenue passenger kilometers (RPKs) rose 5.7% over October 2013, slightly ahead of the 5.2% year-on-year rise recorded in September 2014. October capacity (available seat kilometers or ASKs) increased by 5.5%, causing load factor to rise 0.1 percentage points to 79.1%.
“Against a backdrop of economic weakness in some regions, October traffic results show demand for connectivity remains strong on a global basis,” said IATA director general Tony Tyler. “With 2014 drawing to a close, the outlook for air travel remains largely positive. Improvements in economies in Asia-Pacific and the US are offsetting weakness in the Eurozone and China. The fall in oil prices, if sustained, could provide a much-needed operating cushion. But there are risks which must also be accounted for – including the proliferation of political instability.”
North American airlines experienced a 1.8% rise in traffic compared to October a year ago. While a slowdown compared to September year-over-year growth, underlying trends in business activity are positive and growth in trade volumes has accelerated. Capacity rose 3.2%, which caused load factor to dip 1.1 percentage points to 80.3%.
