During the first quarter of the year, passenger air traffic to and from Latin America and the Caribbean increased by 9% year-on-year, despite the rise in fuel costs, exerting additional pressure on the industry, which already faces numerous challenges, reported the Latin American and Caribbean Air Transport Association (ALTA).
During this period, 120,798,765 passengers were transported in the region, 10 million more than in the same period of the previous year.
Total demand, measured in revenue passenger kilometers (RPK), increased by 11%, with the intraregional segment standing out with an increase of 20.6 percent. Supply, measured in available seat kilometers (ASK), grew by 8.1%, with the intraregional sector being the most prominent with an increase of 16 percent.
“The data shows that demand continues to rise. And they give us a good growth perspective, especially if we look at the first quarter of the year,” said José Ricardo Botelho, CEO of ALTA.
“As we know, this growth is not without challenges. The increase in air traffic goes hand in hand with higher fuel demand, with the average price reaching $111.13 per barrel in April 2024,” mentioned.
This, he indicated, represents a 9% increase compared to the previous year, which exerts additional pressure.
“It is crucial that governments in the region recognize the strategic importance of aviation as an essential service for the population and collaborate closely with the industry to ensure sustainable growth. Greater investment in infrastructure and efficient regulations is needed,” he stated.
For March, ALTA mentioned that 41.1 million passengers flew in, from, and to the region, representing an 8% increase compared to the same month in 2023, equivalent to an additional 3.05 million travelers.
The domestic market experienced growth of 2.4%, with Colombia setting a significant record, “demonstrating its capacity to drive sector growth.”
In the case of Mexico, it experienced a 7% decrease, totaling 4.9 million passengers, representing 351,900 fewer passengers than in 2023. “This decline was mainly due to reduced operational capacity, caused by engine inspections on some planes and decreased operations at Mexico City International Airport (AICM). Despite these challenges, the route between Santa Lucía and Cancun recorded a 56% growth,” according to ALTA.
Meanwhile, the international market grew by 14%. Within the latter, “Venezuela emerged as a clear leader, registering a surprising 68% increase.”
Mexico experienced a 12% increase in international passengers, reaching 5.6 million. This month highlighted the Guadalajara-Houston route and flights to Cuba and the Dominican Republic, which saw increases of 54%, 56%, and 46%, respectively.
Of the total increase, 1.8 million passengers (59%) belonged to the extraregional segment, totaling 15.8 million, growing by 13% compared to the previous year. This increase was led by Mexico-United States and Dominican Republic-Canada, with growth rates of 13% and 38%, respectively. The intraregional segment showed the highest increase, with almost 20% more passengers than in 2023, highlighting traffic between Brazil and Chile (+86%) and Argentina and Brazil (+31%).
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