May 2023 Air Travel Demand Soars, Load Factor at 81.8%: IATA
○ IATA reports strong growth in air travel demand for May 2023, with total traffic rising 39.1% compared to May 2022 and reaching 96.1% of pre-pandemic levels.
The International Air Transport Association (IATA) reported strong growth in air travel demand for May 2023.
Total Traffic May 2023
Total traffic rose 39.1% compared to May 2022, reaching 96.1% of pre-pandemic levels. The total industry load factor was 81.8%, with North American carriers leading at 86.3%.
African Airlines May 2023
African airlines saw a 45.2% increase in traffic, with a capacity increase of 44.2%. The load factor was 68.8%, the lowest among regions.
IATA’s Director General, Willie Walsh, stated that planes were full and domestic markets reported growth on pre-pandemic levels. International demand reached 90.8% of pre-pandemic levels heading into the Northern summer travel season. In 2023, airlines globally are expected to post a $9.8 billion net profit, with an average net profit margin of 1.2% ($2.25 per departing passenger). Walsh noted that this is not sustainable in the long-term.
