India, China leading domestic passenger growth: IATA
India’s domestic traffic rise is leading the world with the growth clocking 16.4% in November, marking the 39th consecutive month of double-digit domestic growth for the market, says International Air Transport Association (IATA).
“All markets showed growth, led again by India and China. Domestic capacity climbed 5.9%, and load factor improved 1.4 percentage points to 83.6%,” IATA said in a release.
The release added that large markets in India, China and Japan mean that domestic travel accounts for 45% of the region’s operations. “It is less important for Europe and most of Africa where domestic travel represents just 11% and 14% of operations, respectively. And it is negligible for Middle Eastern carriers for whom domestic travel represents just 4% of operations,” it said.
According to IATA, total revenue passenger kilometers (RPKs) in November last year rose 8.0% compared to November 2016, the fastest growth rate in five months and up from a 7.3% year-over-year rise in October. Capacity (available seat kilometers or ASKs) increased by 6.3%, and load factor rose 1.2 percentage points to 80.2%.
“The airline industry is in a good place entering 2018. November’s strong demand gives the industry momentum. The number of unique city-pair connections now tops 20,000. Passengers not only have more travel choices than ever, the cost of travel in real terms has never been cheaper. Along with delivering great value to consumers, airlines are rewarding their shareholders with normal levels of profitability. We expect 2018 to be the fourth year in a row where the industry’s return on invested capital will exceed the cost of capital. In sum, we begin the New Year with confidence,” Alexandre de Juniac, IATA’s Director General and CEO was quoted in the relelase.
“Challenges, however, remain. Security threats continue. Infrastructure issues persist. Fees and charges are a growing part of the cost base. And in many cases airports and air traffic management struggle to keep pace with demand and technology advancements. These and other challenges can only be addressed in partnership with governments. And doing so requires governments to recognize the enormous value that aviation—the business of freedom—provides to their economies and the world,” added de Juniac.
News Source: economictimes.indiatimes.com
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