Demand Growth Strengthens in November
- Asia-Pacific airlines’ November traffic climbed 10.8% compared to the year-ago period, driven by strong regional economic growth and continuing expansion of options for travelers. Capacity increased 8.7% and load factor rose 1.5 percentage points to 78.6%.
- European carriers saw demand increase by 7.9% in November 2017. Economic conditions in the region remain very favorable, with business confidence recently having risen to its strongest level in seven years. Capacity climbed 6.2% and load factor rose 1.3 percentage points to 81.9%, which was tied with Latin America as the highest load factor among the regions.
- Middle East carriers had a 4.9% demand increase, which was the lowest among the regions. The market segment to and from North America continues to be affected by the now-lifted ban on personal electronic devices, as well as a wider impact stemming from the proposed travel restrictions to the US from certain countries. Capacity rose 4.3% and load factor lifted 0.4 percentage point to 70.1%.
- North American airlines’ traffic climbed 6.4%, in November. Capacity rose 6.1% and load factor edged up 0.2 percentage point to 79.1%. The relatively vigorous economic backdrop is supporting outbound passenger demand, but this appears partly to be offset by a negative impact on inbound travel to the US from the additional security measures involved with traveling there.
- Latin American airlines’ November traffic climbed 7.2% compared to November 2016. This was broadly in line with the region’s five-year average growth rate, although on a seasonally-adjusted basis, volumes are still below the peak level reached in July 2017. Capacity also increased by 7.2%, keeping load factor flat at 81.9%.
- African airlines experienced a 7.9% rise in demand compared to November 2016. Volumes have started to trend upwards strongly again in seasonally-adjusted terms in recent months, in line with an improvement in business confidence in key economies including Kenya and Nigeria. Indicators in South Africa, by contrast, are still consistent with falling economic activity. Capacity rose 3.7% and load factor climbed 2.7 percentage points to 68.3%.
- India’s domestic traffic rose 16.4% in November, marking the 39th consecutive month of double-digit domestic growth.
- Australia’s domestic traffic rose 3.3% in November, compared to November 2016, which was a 14-month high. This has occurred against a backdrop of tightening capacity, which dropped 0.5% in November.
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