The International Air Transport Association (IATA) has unveiled its global passenger traffic results for May, which indicated a 6.1% year-on-year increase for the month of May. The trade association also noted that during the same period, capacity increased up to 5.9%, while load factor rose by a 0.1 percentage to reach 80.1%.
In terms of the Middle East market, IATA’s report noted May demand growth slowed to 0.8% compared to the same point last year, possibly a result of the earlier timing of Ramadan, as well as a slowdown in the upward trends in traffic compared to 2017. The report also found that the region saw a capacity increase by 3.7% and load factor diminished slightly to 67.5% during the period.
Alexandre de Juniac, IATA’s Director General and CEO, commented: "May was another solid month in terms of demand growth. As had been expected, we saw some moderation, as rising airline costs are reducing the stimulus from lower airfares. In particular, jet fuel prices are expected to be up nearly 26% this year compared to 2017. Nevertheless, the record load factor for the month signifies that demand for air connectivity is strong.”
According to IATA, global passenger traffic demand increased by 5.8%, an increase over the 4.6% growth recorded in April. While a number of the region experienced positive growth, Asia-Pacific airlines saw the most traction, recording a traffic increase of 8.0% for the period, a marginal decrease over the 8.1% recorded in April 2017.
Attributing the increase in passenger traffic as a result of strong regional economic growth and increased network routes, Asia-Pacific airlines saw a capacity increase by 7.6% and load factors reaching 77.9%.