Demand for Middle Eastern airlines increased by a noteworthy 10.8% annually in March 2024, while their capacity increased by 13.9 percent from the same month in March 2023. The International Air Transport Association (IATA) has released its most recent report, which also shows that Middle Eastern carriers have experienced notable growth in the Middle Eastern-Europe market, with an annual growth in air cargo demand of 19.9%. Remarkably, the Asia Pacific region accounts for the largest share of global travel at 31.7 percent, with the Middle East contributing 9.4 percent.
Airlines saw global growth, with an annual increase in total demand of 13.8%. Additionally, available seat kilometers (ASK), a measure of total capacity, increased by 12.3 percent yearly. In the meantime, March’s load factor was a remarkable 82%.
The desire to travel is high. IATA Director General Willie Walsh stated, “And there is every indication that this should continue into the peak Northern Summer travel season.” The ability of airlines to satisfy this demand is therefore crucial. According to Walsh, this guarantees passengers a hassle-free journey.
Conversely, domestic demand rose 6.6 percent annually. Concurrently, capacity increased by 3.4 percent, and the load factor increased by 82.6 percent. With 17.6% yearly growth, China remained the largest domestic market.
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