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1、 Quarterly Air Transport Chartbook IATA Sustainability and Economics Q3 2024 2 Quarterly Air Transport Chartbook-Q3 2024 Table of contents Table of contents.2 Glossary.3 Route areas abbreviations.4 Table of charts.5 1.The business cycle.8 2.Aviation fuel.11 2.1.Conventional aviation fuel.11 2.2.Sust

2、ainable aviation fuel.11 3.Passenger and cargo traffic.13 3.1.Passenger traffic.13 3.2.Air connectivity.15 3.3.Cargo traffic.17 4.Regional performance.19 4.1.Africa.19 4.2.Americas.21 4.3.Asia Pacific.23 4.4.Europe.25 4.5.Middle East.27 3 Quarterly Air Transport Chartbook-Q3 2024 Glossary ACTK Avail

3、able Cargo Tonne-Kilometers ASKs Available Seat-Kilometers ATJ Alcohol-to-Jet ATKs Available Tonne-Kilometers BBL Barrel BLF Breakeven Load Factor CLF Cargo Load Factor CORSIA carbon offsetting and reduction scheme for international aviation CTK Cargo Tonne-Kilometers EBIT Earnings before interest a

4、nd taxes FT Fischer-Tropsch GDP Gross Domestic Product HEFA-Hydro-processed Esters and Fatty Acids LF Load Factor MoM Month-on-month MoUs Memoranda of understanding OPEC Organization of the Petroleum Exporting Countries O-D Origin-Destination PLF Passenger Load Factor PMI Purchasing Managers Index P

5、tL Power-to-Liquid PPP Purchasing power parity RPK Revenue Passenger-Kilometers RTK Revenue Tonne-Kilometers SA Seasonally adjusted SAF Sustainable Aviation Fuel QoQ Quarter-on-quarter USD United States Dollar YoY Year-on-year 4 Quarterly Air Transport Chartbook-Q3 2024 Route areas abbreviations AE

6、Africa-Europe AF Africa-Far East AM Africa-Middle East CS Central America/Caribbean-South America EC Europe-Central America/Caribbean EF Europe-Far East EM Europe-Middle East EN Europe-North America ES Europe-South America FN Far East-North America FP Far East-Southwest Pacific MF Middle East-Far Ea

7、st MN Middle East-North America NC North America-Central America/Caribbean NS North America-South America PS North/South America-Southwest Pacific WC Within Central America WE Within Europe WF With Far East WS Within South America Notes:North America:Bermuda,Canada,St.Pierre and Miquelon,United Stat

8、es including Alaska and Hawaii,but excluding Puerto Rico and United States Virgin Islands Central America/Caribbean:Anguilla,Antigua and Barbuda,Aruba,Bahamas,Barbados,Belize,British Virgin Islands,Cayman Islands,Costa Rica,Cuba,Dominica,Dominican Republic,El Salvador,Granada,Guadeloupe,Guatemala,Ha

9、iti,Honduras,Jamaica,Martinique,Mexico,Monserrat,Netherlands Antilles,Nicaragua,Panama,Puerto Rico,St.Kitts-Nevis,Saint Lucia,Saint Vincent and the Grenadines,Trinidad&Tobago,Turks and Caicos Islands,United States Virgin Islands South America:Argentina,Bolivia,Brazil,Chile,Colombia,Ecuador,French Gu

10、iana,Guyana,Paraguay,Peru,Suriname,Uruguay,Venezuela Europe:Albania,Andorra,Armenia,Austria,Azerbaijan,Belarus,Belgium,Bosnia Herzegovina,Bulgaria,Croatia,Cyprus,Czech Republic,Denmark,Estonia,Faeroe Islands,Finland,France,Georgia,Germany,Greece,Greenland,Hungary,Iceland,Ireland(Republic of),Italy,L

11、atvia,Liechtenstein,Lithuania,Luxembourg,Macedonia(former Republic of Yugoslavia),Malta,Moldova,Monaco,Netherlands,Norway,Poland,Portugal,Romania,Russian Federation,San Marino,Serbia and Montenegro,Slovakia,Slovenia,Spain,Sweden,Switzerland,Turkey,Ukraine,United Kingdom Middle East:Bahrain,Iran,Iraq

12、,Israel,Jordan,Kuwait,Lebanon,Oman,Qatar,Saudi Arabia,Syrian Arab Republic,United Arab Emirates,Yemen Northern Africa:Algeria,Egypt,Libya,Morocco,Sudan,Tunisia Southern Africa:Angola,Benin,Botswana,Burkina Faso,Burundi,Cameroon,Cape Verde,Central African Republic,Chad,Comoros,Congo,Cote dIvoire,Demo

13、cratic Republic of the Congo,Djibouti,Eritrea,Equatorial Guinea,Ethiopia,Gabon,Gambia,Ghana,Guinea,Guinea-Bissau,Kenya,Lesotho,Liberia,Madagascar,Malawi,Mali,Mauritania,Mauritius,Mayotte,Mozambique,Namibia,Niger,Nigeria,Reunion,Rwanda,Sao Tome&Principe,Senegal,Seychelles,Sierra Leone,Somalia,South A

14、frica,South Sudan,Swaziland,Tanzania,Togo,Uganda,Zambia,Zimbabwe Far East:Afghanistan,Bangladesh,Bhutan,Brunei Darussalam,Cambodia,Peoples Republic of China,Hong Kong(SAR,China),India,Indonesia,Japan,Kazakhstan,Korea(Democratic Peoples Republic of),Korea(Republic of),Kyrgyzstan,Lao Peoples Democrati

15、c Republic,Macao(SAR,China),Malaysia,Maldives,Mongolia,Myanmar,Nepal,Pakistan,Philippines,Singapore,Sri Lanka,Chinese Taipei,Tajikistan,Thailand,Timor Leste,Turkmenistan,Uzbekistan,Vietnam Southwest Pacific:American Samoa,Australia,Cook Islands,Fiji,French Polynesia,Guam,Kiribati,Marshall Islands,Mi

16、cronesia,Nauru,New Caledonia,New Zealand,Niue,Northern Mariana Islands,Palau,Papua New Guinea,Samoa,Solomon Islands,Tonga,Tuvalu,United States Minor Outlying Islands,Vanuatu,Wallis&Futuna Islands 5 Quarterly Air Transport Chartbook-Q3 2024 Table of charts Chart 1:Global GDP(right)and RPK(left),%YoY.

17、9 Chart 2:Real GDP growth rate in major economies,%YoY.9 Chart 3:Job vacancy rates in major economies,%of labor force.9 Chart 4:Consumer price inflation in major economies,%YoY.9 Chart 5:Central Bank policy rates for the US,Euro area,UK,Switzerland,and Japan,%.9 Chart 6:General government deficit,%o

18、f GDP.9 Chart 7:Current account and international investment positions,%of global GDP.10 Chart 8:Crude oil(Brent),jet fuel,and crack spread,USD per barrel.12 Chart 9:Jet fuel crack spread(global jet fuel price minus dated brent),USD/barrel.12 Chart 10:Number of SAF offtake agreements,as of September

19、 2024.12 Chart 11:Cumulative total renewable fuel capacity,million tons.12 Chart 12:Total renewable fuel production by technology by 2030,%of total capacity.12 Chart 13:Industry total RPK,billion.14 Chart 14:Passenger load factor by airline region of registration,%of ASK.14 Chart 15:Total RPK and AS

20、K by airline region of registration,%YoY.14 Chart 16:Regional contribution to industry annual RPK growth.14 Chart 17:Domestic RPK by country market,%YoY.14 Chart 18:International RPK by airline region of registration,%YoY.14 Chart 19:IATA Global Air Connectivity Index.16 Chart 20:Global airport pair

21、s,thousand.16 Chart 21:IATA Domestic Air Connectivity Index,selected countries,2014=100.16 Chart 22:IATA Interregional Air Connectivity Index.16 Chart 23:IATA Intraregional Air Connectivity Index,2014=100.16 Chart 24:Industry CTK,billion.18 Chart 25:Industry CTK,year-to-date,billion.18 Chart 26:Inte

22、rnational CTK by airline region of registration,%YoY.18 Chart 27:Industry ACTK,billion.18 6 Quarterly Air Transport Chartbook-Q3 2024 Chart 28:Global air cargo yield(with surcharges),USD/kg(LHS),and industry cargo load factor,seasonally adjusted,%(RHS).18 Chart 29:International cargo load factor by

23、major route area,%of ACTK.18 Chart 30:Africa,international air passenger traffic by route area,%YoY.20 Chart 31:Africa,air passenger load factor by route area,%of ASK.20 Chart 32:Africa,international air cargo traffic by route area,%YoY.20 Chart 33:Traffic from Africa and its top 10 destinations,%Yo

24、Y.20 Chart 34:Africa,Q4 travels purchased during Q3 by market of destination,%YoY.20 Chart 35:Africa,aircraft deliveries,2015-2023(delivered),2024-2025(scheduled).20 Chart 36:Americas,international air passenger traffic growth by route area,%YoY.22 Chart 37:Americas,international air cargo traffic b

25、y route area,%YoY.22 Chart 38:Traffic from North America and its top 10 destinations,%YoY.22 Chart 39:Traffic from Latin America and its top 10 destinations,%YoY.22 Chart 40:Americas,Q4 travels purchased during Q3 by market of destination,%YoY.22 Chart 41:Americas,aircraft deliveries,2015-2023(deliv

26、ered),2024-2025(scheduled).22 Chart 42:Asia Pacific,international air passenger traffic by route area,%YoY.24 Chart 43:Asia Pacific,international air cargo traffic by route area,%YoY.24 Chart 44:Traffic from Asia Pacific and its top 10 destinations,%YoY.24 Chart 45:Air passengers from China to other

27、 regions,Q3 each year,index.24 Chart 46:Asia Pacific,Q4 travels purchased during Q3 by market of destination,%YoY.24 Chart 47:Asia Pacific,aircraft deliveries,2015-2023(delivered),2024-2025(scheduled).24 Chart 48:Europe,international air passenger traffic by route area,%YoY.26 Chart 49:Europe,air pa

28、ssenger load factor by route area,%of ASK.26 Chart 50:Europe,international air cargo traffic by route area,%YoY.26 Chart 51:Traffic from Europe and its top 10 destinations,%YoY.26 Chart 52:Europe,Q4 travels purchased during Q3 by market of destination,%YoY.26 Chart 53:Europe,aircraft deliveries,2015

29、-2023(delivered),2024-2025(scheduled).26 Chart 54:Middle East,international air passenger traffic by route area,%YoY.28 Chart 55:Middle East,air passenger load factor by route area,%of ASK.28 7 Quarterly Air Transport Chartbook-Q3 2024 Chart 56:Middle East,international air cargo traffic by route ar

30、ea,%YoY.28 Chart 57:Traffic from the Middle East and its top 10 destinations,%YoY.28 Chart 58:Middle East,Q4 travels purchased during Q3 by market of destination,%YoY.28 Chart 59:Middle East,aircraft deliveries,2015-2023(delivered),2024-2025(scheduled).28 8 Quarterly Air Transport Chartbook-Q3 2024

31、1.The business cycle The global business cycle is still favorable and supportive of the airline industry in general.Real GDP growth is showing unusual stability at likely 3.2%in each of the years 2023,2024,and 2025(Chart 1).The US economy advanced at the rather stellar pace of 2.8%annualized(=the qu

32、arterly evolution multiplied by four)in the third quarter of this year(Q3),which equates to 1.8%from the previous quarter(QoQ)and 2.7%from the same quarter in 2023(YoY).Chinas economy expanded by 0.9%QoQ and 4.6%YoY in Q3.With both industrial production and retail sales surprising on the upside,Chin

33、as Q3 release belies most expectations of a slowing business cycle.However,the risks to the downside are still severe,as property investments continued to fall at the rather disconcerting rate of 10.1%YoY in the third quarter.Europes economy is growing more tepidly,with the eurozone expanding by 0.4

34、%QoQ(0.3%in the European Union),and both gaining 0.9%on a YoY basis(Chart 2).Indias next GDP estimates will be available on 29 November for July September,the second quarter of Indias Fiscal Year 2024-25.In Q1(April June),Indias economic growth slowed to 6.7%YoY.This was below expectations,and a dec

35、line in government spending during the national elections impacted the number.Labor markets are still tight,although becoming less so.Most of the world enjoyed unemployment rates at or close to historic lows.Another measure of tightness in the labor market is the vacancy ratio,i.e.,the number of job

36、 openings available per working population(Chart 3).The ratio has come down from the highs in 2022 in Europe and in the US but still runs significantly above the trend.This points to upward pressure on wages and to pockets of labor shortages,both likely to impact the airline industry.Inflation is de

37、celerating thanks to falling oil prices and to some falling goods prices.Service price inflation is slower to moderate.The all-items September(the latest available)Consumer Price Index(CPI)in the US gained 0.2%on the month and 2.4%YoY(Chart 4).Excluding food and energy,the index increased 0.3%from A

38、ugust and 3.3%YoY.The US Federal Reserve(Fed)has a dual mandate to stabilize prices and maximize employment.The Fed has clearly stated that it is currently more focused on the labor market.Euro area CPI accelerated to 2%in October 2024,YoY,up from 1.7%in September,the lowest level since April 2021.2

39、%is also the European Central Banks target for inflation.Nevertheless,services inflation remains high at 3.9%YoY.Core inflation,excluding food and energy,was unchanged at 2.7%,the lowest since February 2022.The monthly gain in CPI was 0.3%,following a 0.1%fall in September.In China,the economy is st

40、ill rather deflationary.October CPI gained 0.3%YoY,a touch lower than the 0.4%in September.Producer prices are in outright deflation,falling 2.9%YoY in October.Chinas latest stimulus package of CNY 10 trillion(USD 1.4 trillion),which aims to ease local government hidden debt burdens instead of injec

41、ting money directly into the economy,has not impacted price evolutions at this stage.The global economy is exiting a period of contradictory policies when fiscal policy was loose and monetary policy tight,as inflation now allows for easing on the monetary side.Lower interest rates in the US are help

42、ful to most countries and particularly to those with their currencies tied in some way to the US dollar.These countries will now find it easier to lower their interest rates with reduced concerns about their currencies value against the dollar(Chart 5).However,anticipations regarding the size and pa

43、ce of monetary policy easing have been greatly exaggerated this year.Sticky core inflation will exert a limit on rate cuts,as will the large fiscal deficits that countries are still trailing since the covid-era stimulus(Chart 6).With Donald Trump winning the US Presidential election,trade will come

44、to the fore,with the threat of tariffs now representing the greatest risk to the global business cycle.The US has run persistent trade and current account deficits almost without exception since the early 1980s.Hence,the US is uniquely vulnerable to higher tariffs on its imports.Imports subtracted 1

45、.5 percentage points(ppt)from US GDP in Q3,with exports only adding 0.95 percentage points.This negative contribution of net trade could worsen with higher tariffs.On the other hand,oil-importing countries current accounts look set to improve thanks to the lower oil prices,while the oil exporters wo

46、uld see their surpluses reduced(Chart 7).This should lessen the risk of balance-of-payments crises in a number of vulnerable oil-importing developing economies.9 Quarterly Air Transport Chartbook-Q3 2024 Chart 1:Global GDP(right)and RPK(left),%YoY Source:IATA Sustainability and Economics,using data

47、from IATA Information and Data-Monthly Statistics and the IMF.Chart 2:Real GDP growth rate in major economies,%YoY Source:IMF World Economic Outlook Chart 3:Job vacancy rates in major economies,%of labor force Source:IATA Sustainability and Economics,calculated as job openings per labor force popula

48、tion,using data from Eurostat and US BLS.Chart 4:Consumer price inflation in major economies,%YoY Source:IMF World Economic Outlook Chart 5:Central Bank policy rates for the US,Euro area,UK,Switzerland,and Japan,%Source:Macrobond Chart 6:General government deficit,%of GDP Source:IATA Sustainability

49、and Economics,using data from IMF.-8-4048-80-40040801980198519901995200020052010201520202025Global RPK(LHS)Global GDP(RHS)%01234567820142015201620172018201920202021202220232024%USGermanySpainFranceSwitzerland 10 Quarterly Air Transport Chartbook-Q3 2024 Chart 7:Current account and international inve

50、stment positions,%of global GDP Source:IMF -3-2-1012320052010201520202025%European creditorsChinaJapanOil exportersUnited StatesEuropean debtorsOthersDiscrepancy 11 Quarterly Air Transport Chartbook-Q3 2024 2.Aviation fuel 2.1.Conventional aviation fuel The global jet fuel price fell below USD 100 p

51、er barrel in Q3 2024,averaging USD 94 per barrel for the quarter(Chart 8).This decrease was helped by lower crude oil prices in an over-supplied market.Global petroleum consumption growth slowed to 0.9 million barrels per day in Q3 2024,down from 2 million barrels per day in 2022 and 2023.The averag

52、e jet fuel crack spread for the quarter narrowed to USD 14 per barrel,bringing it within the 3-year(2017-2019)pre-pandemic range of USD 10 to 21 per barrel(Chart 9)for the first time since 2020.This signaled a return to pre-pandemic refinery margins as demand for diesel has fallen,freeing up capacit

53、y at the refinery for increased jet fuel production.2.2.Sustainable aviation fuel Sustainable Aviation Fuel(SAF)is essential for reaching aviations net zero carbon emissions target.The SAF ecosystem is continuously developing on both the supply and demand side.Over the past two years,the aviation in

54、dustry has signed 96 SAF offtake agreements(Chart 10).Of these,70 are binding purchase commitments,and 26 are non-binding.As of September 2024,70 airlines,three aircraft manufacturers,and one airport publicly announced at least one SAF purchase agreement globally.In Q3 2024,68 agreements were signed

55、 with Hydro-processed Esters and Fatty Acids(HEFA)SAF standalone and co-processing facilities,accounting for 71%of all supply deals.Offtakes for E-fuel SAF from various Power-to-Liquid(PtL)producers trailed behind with 13 agreements(14%).The remaining deals refer to purchasing Alcohol-to-Jet(AtJ)and

56、 Syngas Fischer-Tropsch(FT)SAF,which comprised 8%and 7%,respectively.To maximize on all available opportunities,it is essential to diversify feedstocks and technologies beyond HEFA.We continue to track SAF facilities that have been announced globally and that are at different stages of advancement.T

57、his tracking is based on publicly announced renewable fuel projects until 2030,aiming to assess SAF availability on the ground.About 140 identified projects are progressing across 30 countries with a projected renewable fuel capacity of more than 50 Mt by 2030(Chart 11).However,the commercial advanc

58、ement of these projects has been sluggish due to underdeveloped feedstock supply chains,lack of financing and policy guidance,and weak project economics.It is expected that about 80%of total global renewable fuel capacity by 2030,including SAF,will be based on the HEFA pathway(Chart 12).Post-2030 pr

59、ojects show more technological diversity in SAF production,but most are still at the demonstration or pilot stage.The success of SAF will depend on the commercial-scale deployment of diverse feedstocks,and the industry must leverage the potential of all globally available feedstock resources to sati

60、sfy the growth in demand.The global supply of SAF will also depend on production pathways,the ability of the biorefineries to optimize SAF production within the product mix,and the incentives provided to make the shift toward SAF.The American Society for Testing and Materials(ASTM)has approved new p

61、athways,but introducing new pathways in a refinery can come at the expense of overall product yields.Policies can influence the refiners choice of product mix,and policy support is essential to encourage SAF production,as well as the diversification of technologies and of feedstock production all ne

62、cessary for a successful energy transition.12 Quarterly Air Transport Chartbook-Q3 2024 Chart 8:Crude oil(Brent),jet fuel,and crack spread,USD per barrel Source:IATA Sustainability and Economics,using data from S&P Global Commodity Insight Chart 9:Jet fuel crack spread(global jet fuel price minus da

63、ted brent),USD/barrel Source:IATA Sustainability and Economics,using data from S&P Global Commodity Insights Chart 10:Number of SAF offtake agreements,as of September 2024 Source:IATA Sustainability and Economics Chart 11:Cumulative total renewable fuel capacity,million tonne Source:IATA Sustainabil

64、ity and Economics Chart 12:Total renewable fuel production by technology by 2030,%of total capacity Source:IATA Sustainability and Economics 050100150200201920202021202220232024CrackJet fuel priceDated BrentUSD/bbl0204060JanFebMarAprMayJunJulAugSepOctNovDecUSD/bbl3-yr range(2017-2019)20232024AtJ7.1%

65、Co-Process9.5%HEFA78.2%Others0.3%PtL1.3%Syngas FT3.6%020406080100120012345678910JanAprJulOctJanAprJulOctJanAprJul202220232024Cumulative no.of agreementsNo.of agreementsAgreementsCumulative010203040506020202021202220232024202520262027202820292030MtHEFACo-ProcessAtJSyngas FTPtLOthers 13 Quarterly Air

66、Transport Chartbook-Q3 2024 3.Passenger and cargo traffic 3.1.Passenger traffic The third quarter is traditionally the peak season for air traffic,with all regions experiencing a significant increase in passengers.In Q3 2024,the industry-wide Revenue Passenger-Kilometer(RPK)grew by 7.8%YoY.This perf

67、ormance brought the industry to an all-time high for air passenger traffic,with total traffic up 4.0%compared to the same period in 2019(Chart 13).The passenger load factor(PLF),a key measure of airline efficiency,increased by 1.0 percentage points YoY,reaching an industry-wide average of 85.2%.This

68、 figure is 0.8 percentage points above the previous peak(Chart 14).Airlines in Asia Pacific and Africa saw load factors increase the most,rising 2.8 percentage points YoY.On the other hand,Latin American carriers load factors declined by 0.9 percentage points.This decrease was caused by the growth i

69、n seat capacity,measured in Available Seat-Kilometers(ASK),outpacing that in passenger demand in Q3(Chart 15).Europe and North America were the only regions where load factors remained below pre-pandemic levels,though relatively high compared to other regions.Delays in new aircraft deliveries,caused

70、 by supply chain issues and structural challenges among manufacturers,may lead to a shortfall in seat capacity growth compared to long-term averages.Nevertheless,passenger demand is expected to rise,and load factors could continue to increase in the near future.The Asia Pacific region continued to l

71、ead in terms of growth in RPK,with passenger traffic and seat capacity increasing by 12.6%and 8.9%YoY,respectively(Chart 15).This region accounted for over half of the industrys total RPK growth during the quarter(Chart 16).European airlines made the second-largest contribution to the industrys over

72、all growth in RPK,with a 7.0%YoY rise.Industry-wide growth has decelerated since the start of the year because of the base effect provided by the solid performance in 2023,and growth rates are now more closely aligned with the long-term growth trend observed before the pandemic.Domestic traffic,whic

73、h accounts for nearly 40%of total passenger flows,grew by 4.4%YoY in Q3,maintaining a pace similar to the previous quarter.Notably,PR China and India saw YoY increases in RPK of 8.6%and 6.4%,respectively(Chart 17).Industry-wide international RPK rose by 9.9%YoY,maintaining strong growth from a high

74、base(Chart 18).Carriers in Asia Pacific and Latin America led with RPK growth of 19.2%and 13.1%YoY,respectively.While Latin American carriers have exceeded their pre-pandemic levels significantly,Asia Pacifics international RPK remain below 2019 levels.This shortfall is largely due to curtailed trav

75、el to and from China,along with ongoing US-China tensions,which continue to limit airline capacity.Meanwhile,growth in emerging markets drives steady industry expansion despite the operational challenges posed by the war in Ukraine and the escalating conflict in the Middle East.14 Quarterly Air Tran

76、sport Chartbook-Q3 2024 Chart 13:Industry total RPK,billion Source:IATA Sustainability and Economics using data from IATA Information and Data-Monthly Statistics Chart 14:Passenger load factor by airline region of registration,%of ASK Source:IATA Sustainability and Economics using data from IATA Inf

77、ormation and Data-Monthly Statistics Chart 15:Total RPK and ASK by airline region of registration,%YoY Source:IATA Sustainability and Economics using data from IATA Information and Data-Monthly Statistics Chart 16:Regional contribution to industry annual RPK growth Source:IATA Sustainability and Eco

78、nomics using data from IATA Information and Data-Monthly Statistics Chart 17:Domestic RPK by country market,%YoY Source:IATA Sustainability and Economics using data from IATA Information and Data-Monthly Statistics Chart 18:International RPK by airline region of registration,%YoY Source:IATA Sustain

79、ability and Economics using data from IATA Information and Data-Monthly Statistics 05001,0001,5002,0002,5003,000Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3201920202021202220232024ActualSeasonally AdjustedRPK,billion60708090IndustryAfricaAsia/PacificEuropeLatin America andCaribbeanMiddle EastNorth

80、 AmericaQ3-2019Q3-2023Q3-2024%0481216IndustryAfricaAsia PacificEuropeLatinAmerica&CaribbeanMiddle EastNorthAmericaRPKASK%02040Q3Q2Q1Q4Q320242023AfricaAsia PacificEuropeLatin AmericaMiddle EastNorth AmericaIndustry%-3036912IndustryAustraliaBrazilIndiaJapanUnitedStatesPR ChinaQ2-2024Q3-2024%02040Indus

81、tryAfricaEuropeMiddle EastNorthAmericaAsia PacificLatinAmerica&CaribbeanQ2-2024Q3-2024%15 Quarterly Air Transport Chartbook-Q3 2024 3.2.Air connectivity IATAs Air Connectivity Index measures how well countries worldwide are interconnected via air transportation.The index is calculated using the seat

82、 capacity of direct flights to each destination at the airport level,weighted by the destinations size(measured by seat capacity handled).In Q3 2024,global domestic air connectivity grew by 6.3%YoY,while international air connectivity increased by 17.9%YoY(Chart 19).The number of airports connected

83、by direct flights increased by 2.1%YoY in Q3 2024 to 25.6 thousand airport pairs globally.This growth was driven by a 5.2%YoY increase in international airport pairs,while domestic airport pairs decreased by 0.9%YoY(Chart 20).Domestic air connectivity grew unevenly across countries in Q3(Chart 21).T

84、he strongest performance was seen in China and India where connectivity grew by 12.5%and 10.7%YoY,respectively.The United States,Japan,and Australia saw more moderate increases of 4.1%,2.7%,and 1.7%YoY,respectively.At the other end of the spectrum,Brazils domestic air connectivity decreased by 5.4%Y

85、oY.Interregional connectivity,the index that measures flight connectivity between different regions,improved across the board(Chart 22).Strong growth occurred in Asia Pacific,North America,Europe,and Africa,increasing 18.2%,14.1%,12.9%,and 12.7%YoY,respectively.This is partially supported by increas

86、ed travel to and from the Asia Pacific region.Notably,Europe and Asia Pacific maintain the highest levels of interregional air connectivity.Interregional connectivity also advanced for Latin America&the Caribbean and the Middle East,rising by 7.8%and 5.2%YoY,respectively.Considering international fl

87、ights within the same region,intraregional air connectivity increased further in Q3 2024 across all regions(Chart 23).Intraregional connectivity in the Asia Pacific increased by 45.5%YoY,supported by a strong rebound in traffic to and from China.Latin America&Caribbeans intraregional connectivity al

88、so saw an impressive 34.3%increase YoY.Africa,Europe,the Middle East,and North America experienced more moderate but still significant growth of 14.3%,12.7%,8.9%,and 4.7%YoY,respectively.16 Quarterly Air Transport Chartbook-Q3 2024 Chart 19:IATA Global Air Connectivity Index Source:IATA Sustainabili

89、ty and Economics Chart 20:Global airport pairs,thousand Source:IATA Sustainability and Economics Chart 21:IATA Domestic Air Connectivity Index,selected countries,2014=100 Source:IATA Sustainability and Economics Chart 22:IATA Interregional Air Connectivity Index Source:IATA Sustainability and Econom

90、ics Chart 23:IATA Intraregional Air Connectivity Index,2014=100 Source:IATA Sustainability and Economics 050100150200250300Q1Q3Q1Q3Q1Q3Q1Q3Q1Q3Q1Q3Q1Q3Q1Q3Q1Q3Q1Q320152016201720182019202020212022202324DomesticInternationalIndex02468101214Q1Q3Q1Q3Q1Q3Q1Q3Q1Q3Q1Q3Q1Q3Q1Q3Q1Q3Q1Q32015201620172018201920

91、2020212022202324DomesticInternationalAirport Pairs,thousands050100150200250300Q4Q2Q4Q2Q4Q2Q4Q2Q4Q2Q4Q2Q4Q2Q4Q2Q4Q2Q4Q214 20152016201720182019202020212022202324AustraliaBrazilChinaIndiaJapanUnited StatesIndex0510152025Q1Q3Q1Q3Q1Q3Q1Q3Q1Q3Q1Q3Q1Q3Q1Q3Q1Q3Q1Q320152016201720182019202020212022202324Afric

92、aAsia PacificEuropeLatin America&CaribbeanMiddle EastNorth AmericaIndex020406080100120140160180Q4Q2Q4Q2Q4Q2Q4Q2Q4Q2Q4Q2Q4Q2Q4Q2Q4Q2Q4Q214 20152016201720182019202020212022202324AfricaAsia PacificEuropeLatin America&CaribbeanMiddle EastNorth AmericaIndex 17 Quarterly Air Transport Chartbook-Q3 2024 3.

93、3.Cargo traffic The airline industry saw record third-quarter cargo volumes in 2024 and the second-highest level of quarterly cargo tonne-kilometers(CTK)ever,topped only during the pandemic in Q4 2021(Chart 24).These extraordinary traffic levels marked a 1.7%increase in CTK compared to Q2(after seas

94、onal adjustment)and a powerful 11.0%annual surge.As such,Q3 2024 was the third straight quarter exhibiting double-digit annual growth,although the latest numbers signal a potential slowdown in the remarkable growth momentum of the preceding quarters.Strong air cargo demand was not just a feature of

95、Q3 but of the full year,as evidenced by the record volumes in year-to-date(YTD)terms(Chart 25).The exceptional traffic volumes are helped by booming e-commerce demand in the US and Europe,and by continued disruptions in global maritime shipping,the latter of which radically improved air cargos compe

96、titiveness relative to sea transport.Even if growth continues to decelerate,the industry is poised for an incredibly strong peak season in 2024.The global surge in demand in Q3 continued to be driven by international routes,where CTK grew by an impressive 11.9%YoY.All regions supported this expansio

97、n to various extents(Chart 26).Airlines registered in Asia Pacific added 13.9%YoY to their international air cargo volume.These carriers alone accounted for 41%of the industry-wide expansion.Carriers from Latin America,the Middle East,and Europe also experienced double-digit annual surges in Q3 with

98、 13.6%,13.3%,and 12.5%,respectively.Traffic growth by North American and African airlines stayed in the single digits,with 7.6%YoY and 4.2%YoY,in that order.Overall,growth slowed in Q3 compared to Q2 in all regions except Latin America,where the corresponding figure rose by 2.4 percentage points,up

99、from 11.2%in Q2.Lagging all other regions,Africa saw the largest reduction in YoY growth in Q3,falling by 10.5 percentage points.The total number of available cargo tonne-kilometers(ACTK)reached record levels in Q3 2024,both overall and YTD(Chart 27).This extraordinary global level of capacity was r

100、eached although the pace of capacity expansion is slowing.Growth in ACTK pulled back to 6.7%YoY in Q3,a relatively modest figure in the recent historical context.Passenger belly-hold capacity continued to be the primary growth driver,with an annual increase of 10.8%YoY,while dedicated freighter capa

101、city rose by 5.6%.However,the contribution of belly capacity to the expansion of international ACTK has been declining since Q1 2023.In Q3 2024,the global air cargo yield(with surcharges)rose by 3.0%QoQ and a very healthy 9.8%YoY,the first positive annual evolution since late 2022(Chart 28).Presentl

102、y,e-commerce companies and shippers that shift from sea to air transport compete for capacity with the more traditional air cargo clientele,which supports yields.Meanwhile,the seasonally adjusted air cargo load factor(CLF)grew by 1.9 percentage points on average compared to Q3 2023.This reflects the

103、 third consecutive quarter with positive annual growth after a streak of negative YoY evolutions that started in Q3 2021.Strong demand has helped load factors recover from the post-pandemic influx of belly capacity.The highest load factors1 in Q3 2024 were seen on the Asia-Europe and North America-A

104、sia trade lanes,with 67.5%and 61.4%,respectively(Chart 29).These two route areas also handle the largest air cargo volumes worldwide(measured in CTK)and have benefited from thriving e-commerce.However,among the major routes displayed in the chart,North America-Asia was the only one that experienced

105、a lower load factor in Q3 2024 than the year before due to expanding freighter capacity.The Transatlantic route area the third largest in the world registered a comparatively modest average load factor of 38.8%in Q3.This is typical for the season,as the Europe-North America trade lane is marked by h

106、igh passenger belly-hold capacity during the Northern Hemispheres summer months against the backdrop of retail cycles that peak during wintertime.1 Air cargo load factors are defined as the percentage of ACTK that was utilized,as indicated by CTK flown(CLF=CTK/ACTK).Cargo load factors are not compar

107、able with passenger load factors,given the directional nature of cargo operations and the resulting underutilization of capacity on the backhaul leg of the journey.18 Quarterly Air Transport Chartbook-Q3 2024 Chart 24:Industry CTK,billion Source:IATA Sustainability and Economics using data from IATA

108、 Information and Data-Monthly Statistics Chart 25:Industry CTK,year-to-date,billion Source:IATA Sustainability and Economics using data from IATA Information and Data-Monthly Statistics Chart 26:International CTK by airline region of registration,%YoY Source:IATA Sustainability and Economics using d

109、ata from IATA Information and Data-Monthly Statistics Chart 27:Industry ACTK,billion Source:IATA Sustainability and Economics using data from IATA Information and Data-Monthly Statistics Chart 28:Global air cargo yield(with surcharges),USD/kg(LHS),and industry cargo load factor,seasonally adjusted,%

110、(RHS)Source:IATA Sustainability and Economics using data from IATA Information and Data-Monthly Statistics,IATA CargoIS Chart 29:International cargo load factor by major route area,%of ACTK Source:IATA Sustainability and Economics using data from IATA Information and Data 404550556065707580Q1Q2Q3Q4Q

111、1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q320172018201920202021202220232024BillionActualSeasonally adjusted050100150200250300Q1Q2Q3Q4Billion2022202320240%2%4%6%8%10%12%14%16%18%IndustryAsia PacificLatinAmericaMiddle EastEuropeNorthAmericaAfricaQ2 2024Q3 2024%8090100110120130140150160Q1Q2Q3

112、Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q320172018201920202021202220232024Billion ActualSeasonally adjusted40%42%44%46%48%50%52%54%56%58%60%0.00.51.01.52.02.53.03.54.04.55.0Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3201920202021202220232024Air cargo yield(LHS)CLF(RHS)USD/kg%30%40%50

113、%60%70%80%Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3201920202021202220232024%Asia-EuropeEurope-Middle EastEurope-North AmericaNorth America-AsiaIndustry averageMiddle East-AsiaWithin Asia 19 Quarterly Air Transport Chartbook-Q3 2024 4.Regional performance 4.1.Africa African airlines achieved a 1

114、0.5%YoY increase in passenger traffic in Q3 2024,outperforming the industrys average growth rate by over two percentage points.The Africa-Europe route set a new record at 56.4 billion RPK for the quarter,looking at all airlines serving the region,underscoring the ongoing demand for intercontinental

115、travel across Africas busiest air traffic corridor.The Africa-Asia route also reached unprecedented activity following a 29%YoY increase.Passenger traffic between Africa and the Middle East rose by a more modest 3%YoY,a slower pace than in the previous quarter(Chart 30).Seat capacity provided by Afr

116、ican airlines expanded by 6.6%YoY,in line with the industrys average growth.The average PLF achieved by African airlines stood at 77.2%in Q3,an improvement from the previous quarter,yet lower than other carriers serving the region.Among all airlines making connections from Africa,the Africa-Europe r

117、oute saw the highest average PLF at 85%,followed by Africa-Middle East at 81%,and Africa-Asia at 80%.All three corridors showed an increase in PLF compared to the prior quarter(Chart 31).Cargo traffic on the Africa-Asia route has grown consistently,more than tripling over the past decadeoutpacing al

118、l other trade lanes globally.Since 2020,this route has surpassed the Africa-Middle East route,becoming Africas second-largest trade lane in CTK,just behind Africa-Europe.This trade lane saw cargo volumes increase by 14%YoY among all airlines carrying cargo between Africa and Asia.Africa-Europe follo

119、ws with a 12%YoY rise in volumes,while the Africa-Middle East route grew by 6%(Chart 32).Air cargo traffic carried by African airlines expanded by less than other airlines on these routes,at a modest 4.3%YoY.Passenger traffic from Africa is primarily directed toward the Middle East and Europe.Saudi

120、Arabia,in particular,strengthened its position as the leading destination,seeing a 19%YoY increase in passengers from Africa in Q3(Chart 33).Most destinations,such as the US and UAE,saw single-digit YoY growth from Africa,while passengers from Africa to France and the UK declined slightly.China reco

121、rded a remarkable 43%YoY rise in African arrivals,the highest among Africas key destinations,supported by relaxed travel restrictions and growing business ties.Passenger volumes to African destinations are expected to rise in Q4,based on ticket purchase data from Q3(Chart 34).Morocco,Mauritius,and E

122、thiopia,in particular,anticipate over 10%YoY growth in incoming passenger numbers for the holiday season.Other high-traffic markets such as Egypt,South Africa,Kenya,and Nigeria also expect higher visitor numbers than last year.However,Tanzania is expected to see a 4%YoY decline,likely due to an exce

123、ptionally high base from 2023 when passenger numbers surged 27%YoY.In response to this rising demand,African airlines are expanding their fleets significantly.Plans include the delivery of 20 new aircraft in 2024,followed by an additional 40 in 2025,marking the highest number of scheduled deliveries

124、 since 2019(Chart 35).This fleet growth reflects optimism in sustained demand for both regional and international air travel.20 Quarterly Air Transport Chartbook-Q3 2024 Chart 30:Africa,international air passenger traffic by route area,%YoY Source:IATA Sustainability and Economics using data from IA

125、TA Information and Data.Notes:AE=Africa and Europe;AF=Africa and Far East;AM=Africa and Middle East.Chart 31:Africa,air passenger load factor by route area,%of ASK Source:IATA Sustainability and Economics using data from IATA Information and Data.Notes:AE=Africa and Europe;AF=Africa and Far East;AM=

126、Africa and Middle East.Chart 32:Africa,international air cargo traffic by route area,%YoY Source:IATA Sustainability and Economics using data from IATA Information and Data.Notes:AE=Africa and Europe;AF=Africa and Far East;AM=Africa and Middle East.Chart 33:Traffic from Africa and its top 10 destina

127、tions,%YoY Source:IATA Sustainability and Economics using data from DDS.Chart 34:Africa,Q4 travels purchased during Q3 by market of destination,%YoY Source:IATA Sustainability and Economics using data from DDS.Chart 35:Africa,aircraft deliveries,2015-2023(delivered),2024-2025(scheduled)Source:IATA S

128、ustainability and Economics using Cirium 1 Percent of industry RPK in 2023 Source:IATA Sustainability and Economics using data from IATA Information and Data-Monthly Statistics.Note:The total industry and regional growth rates are based on a constant sample of airlines combining reported data and es

129、timates for missing observations.Airline traffic is allocated according to the region in which the carrier is registered;it should not be considered regional traffic.0102030405060AEAFAM%Q2 2024Q3 202468707274767880828486AEAFAM%Q2 2024Q3 20240510152025303540AEAFAM%Q2 2024Q3 2024-1001020304050%-6-4-20

130、2468101214%010203040506020152016201720182019202020212022202320242025Africa(Delivered)ScheduledNumber of commercial aircraftShare of total,%1RPKASKCTKACTKTOTAL MARKET1007.86.511.06.785.244.6 Africa2.110.56.64.311.877.238.7Q3 2024,%YoYPLFCLF 21 Quarterly Air Transport Chartbook-Q3 2024 4.2.Americas Ai

131、r passenger traffic carried by North American and Latin American airlines grew by 3.3%and 6.3%YoY,respectively,lower than the industry average growth rate measured in RPK.The strongest annual growth is seen in routes within South America,which increased by 30%,up 3 percentage points from the previou

132、s quarter(Chart 36).Except for this route,deceleration is observed across the board as seen in the rest of the world.The transatlantic route,the busiest international pathway serving the Americas,saw a modest 4%YoY growth,three percentage points lower than in Q2.On a brighter note,air passenger traf

133、fic on this route is already 5%above 2019 levels.The most significant growth compared to 2019 has been seen on the Middle East-North America route,which expanded by more than 30%during this period.In contrast,the transpacific route,the second largest corridor serving the Americas,remains 20%below 20

134、19 traffic levels despite a 17%YoY increase in Q3.International air cargo traffic grew by 5.5%and 15.3%YoY for North American and Latin American airlines,respectively.The largest annual growth is recorded within South America,with an impressive 37%expansion YoY.The transatlantic trade lane grew by 5

135、%YoY,marking its highest air cargo volume since 2021.Meanwhile,the transpacific trade lane continued to be the busiest serving the Americas and it recorded a 9%increase YoY,boosted by surging e-commerce from Asian exporters(Chart 37).Europe,Latin America,and the Caribbean are typical destinations fo

136、r North American travelers.The UK,as the main entry point to Europe,saw 7%growth compared to Q3 2023,while Spain and Italy achieved a 15%and 10%YoY increase,respectively.Latin American destinations also experienced growth,with Puerto Rico and the Dominican Republic at 6%,and Mexico at 3%.However,non

137、traditional markets such as Japan and India were the fastest-growing destinations in Q3 2024,expanding by 17%and 16%YoY,respectively(Chart 38).The US,Latin Americas top travel destination,recorded a 7%YoY traffic increase from the region in Q3,and Canada rose by 6%(Chart 39).The connection between L

138、atin America and Europe has also tightened in the past decade,resulting in eight of the top 10 destinations being European countries.Notably,passengers traveling from Latin America to Italy saw 19%YoY growth in Q3 2024,followed by a 13%increase in Spain.France and the UK received 6%more passengers f

139、rom the region than a year before.On the other hand,the Netherlands experienced a 4%YoY drop in traffic,and Portugal was unchanged in the same quarter.Ticket bookings for travel in Q4 showed a positive short-term outlook for most countries in the region.In Latin America,Chile expects an impressive 2

140、8%increase in Q4 travel compared to the previous year,followed by Peru at 14%YoY(Chart 40).This positive trend can be attributed to these countries late recovery following the pandemic.The coming busy travel season in the Caribbean will also benefit Puerto Rico with 11%growth and the Dominican Repub

141、lics expected 10%increase YoY.In North America,Canada can anticipate a notable 9%growth in incoming passengers in the coming season,while a more modest 4%YoY is expected for the US.Aircraft deliveries have faced delays and cancellations due to technical issues and production constraints,resulting in

142、 over 100 fewer aircraft deliveries scheduled in 2024 than in 2023(Chart 41).465 new aircraft are expected to be delivered in 2025,which would be a record number,though this is unlikely to materialize.Latin American airlines too are restocking their fleets to reach optimal capacity,and deliveries ar

143、e scheduled to increase to 111 aircraft in 2025,with high uncertainty applying to this number as well.22 Quarterly Air Transport Chartbook-Q3 2024 Chart 36:Americas,international air passenger traffic growth by route area,%YoY Source:IATA Sustainability and Economics using data from IATA Information

144、 and Data.Notes:CS=Central America/Caribbean and South America;EC=Europe and Central America/Caribbean;EN=Europe and North America;ES=Europe and South America;FN=Far East and North America;MN=Middle East and North America;NC=North America and Central America/Caribbean;NS=North America and South Amer

145、ica;PS=North/South America and Southwest Pacific;WC=Within Central America;WS=Within South America.Chart 37:Americas,international air cargo traffic by route area,%YoY Source:IATA Sustainability and Economics using data from IATA Information and Data.Notes:CS=Central America/Caribbean and South Amer

146、ica;EC=Europe and Central America/Caribbean;EN=Europe and North America;ES=Europe and South America;FN=Far East and North America;MN=Middle East and North America;NC=North America and Central America/Caribbean;NS=North America and South America;PS=North/South America and Southwest Pacific;WC=Within

147、Central America;WS=Within South America.Chart 38:Traffic from North America and its top 10 destinations,%YoY Source:IATA Sustainability and Economics using data from DDS.Chart 39:Traffic from Latin America and its top 10 destinations,%YoY Source:IATA Sustainability and Economics using data from DDS.

148、Chart 40:Americas,Q4 travels purchased during Q3 by market of destination,%YoY Source:IATA Sustainability and Economics using data from DDS.Chart 41:Americas,aircraft deliveries,2015-2023(delivered),2024-2025(scheduled)Source:IATA Sustainability and Economics using Cirium 1 Percent of industry RPK i

149、n 2023 Source:IATA Sustainability and Economics using data from IATA Information and Data-Monthly Statistics.Note:The total industry and regional growth rates are based on a constant sample of airlines combining reported data and estimates for missing observations.Airline traffic is allocated accord

150、ing to the region in which the carrier is registered;it should not be considered regional traffic.-505101520253035CSECENESFNMNNCNSPSWCWS%Q2Q3-50510152025303540CSECENESFNMNNCNSPSWCWS%Q2Q3024681012141618%-10-505101520%-100102030%0501001502002503003504004505002015201620172018201920202021202220232024202

151、5North America(Delivered)ScheduledLatin America(Delivered)ScheduledNumber of commercial aircraftShare of total,%1RPKASKCTKACTKTOTAL MARKET1007.86.511.06.785.244.6North America24.23.33.25.54.386.038.6Latin America5.56.37.415.38.284.535.5Q3 2024,%YoYPLFCLF 23 Quarterly Air Transport Chartbook-Q3 2024

152、4.3.Asia Pacific Asia Pacific airlines passenger traffic grew by 12.6%YoY in Q3.This rate surpassed the industry average growth of 7.8%and was the highest among all regions.Momentum slowed slightly from Q2 across major international route areas following the tremendous post-pandemic rebound,reflecti

153、ng growth from a higher base(Chart 42).Approximately a third of international traffic originating from Asia Pacific remains within the region.This traffic has reached 89%of 2019 levels after growing by 25%YoY in Q3.Likewise,the second largest route area,Asia-Europe,saw a 21%year-over-year growth,slo

154、wing down from 29%in Q2.Growth in passenger traffic between the Southwest Pacific and the Americas turned negative,dropping by eight percentage points as mainly US travelers stayed away.Air cargo traffic carried by Asia Pacific airlines grew by 13.8%in Q3,the highest among all regions,despite slowin

155、g down from the previous quarter but also growing from an elevated base(Chart 43).Strong exports from key markets such as China,Japan,Thailand,Malaysia,and Vietnam continued to support growth in CTK for airlines in the region,by 9%for the Asia-North America trade lane and by 16%for Asia-Europe.North

156、 America,Europe,and the Middle East remain important destinations for Asia Pacific travelers(Chart 44).The US and the UK,as top destinations,saw traffic from Asia Pacific grow 13%and 7%YoY,respectively.Traffic between Asia Pacific and Spain surged by a massive 33%YoY in Q3,propelling Spain to a top

157、10 market for the region.Traffic between Asia Pacific and other European markets such as Germany,France,Italy,and Trkiye all experienced growth of 14%or more,driven by strong travel demand from China,India,Japan,and Thailand.International air passenger traffic from China has yet to fully return to 2

158、019 levels,though recovery continues across major destinations(Chart 45).Most international traffic from China stays within the Asia-Pacific region.This traffic grew by 55%YoY but was still 18%below 2019 levels in Q3.The Europe-China route is also recovering and reached more than 80%of pre-pandemic

159、figures.China-Middle East traffic rebounded strongly,reaching 95%of pre-pandemic volumes.The Africa-China route has shown the most robust rebound,with traffic up 37%YoY in Q3,surpassing 2019 levels by 4%.In contrast,traffic between China and North America lags significantly,hindered by political ten

160、sions and capacity constraints.Passenger volumes from China to North America stood at only 55%of 2019 levels in Q3,despite a 62%YoY increase.Travel demand is expected to remain strong heading into Q4(Chart 46),with growth foreseen in all key destinations.Tickets sold for flights to China in Q4 incre

161、ased 25%YoY,bolstered by a more liberal visa regime in China,adding more European and Asian countries to its visa-free list.Thailands expanded visa-free entry program also supports strong travel demand,with tickets sold for flights to the country increasing 27%YoY for Q4.Travel demand for Japan rema

162、ins robust,with a 17%increase in tickets sold,benefiting from the weak Japanese yen against many other currencies,and from social media successfully promoting Japans tourist attractions.Australia,India,and Korea will see single-digit growth in incoming passengers in the coming holiday season.The str

163、ong performance of the Asia-Pacific region is reflected in aircraft orders,with 614 commercial aircraft scheduled for delivery in 2025,up from 445 deliveries in 2024(Chart 47).It is,however,likely to see further delays in deliveries into 2026.24 Quarterly Air Transport Chartbook-Q3 2024 Chart 42:Asi

164、a Pacific,international air passenger traffic by route area,%YoY Source:IATA Sustainability and Economics using data from IATA Information and Data.Notes:AF=Africa and Far East;EF=Europe and Far East;FN=Far East and North America;FP=Far East and Southwest Pacific;MF=Middle East and Far East;PS=North

165、/South America and Southwest Pacific;WF=Within Far East.Chart 43:Asia Pacific,international air cargo traffic by route area,%YoY Source:IATA Sustainability and Economics using data from IATA Information and Data.Notes:AF=Africa and Far East;EF=Europe and Far East;FN=Far East and North America;FP=Far

166、 East and Southwest Pacific;MF=Middle East and Far East;PS=North/South America and Southwest Pacific;WF=Within Far East.Chart 44:Traffic from Asia Pacific and its top 10 destinations,%YoY Source:IATA Sustainability and Economics using data from DDS.Chart 45:Air passengers from China to other regions

167、,Q3 each year,index Source:IATA Sustainability and Economics using data from DDS.Chart 46:Asia Pacific,Q4 travels purchased during Q3 by market of destination,%YoY Source:IATA Sustainability and Economics using data from DDS.Chart 47:Asia Pacific,aircraft deliveries,2015-2023(delivered),2024-2025(sc

168、heduled)Source:IATA Sustainability and Economics using Cirium 1 Percent of industry RPK in 2023 Source:IATA Sustainability and Economics using data from IATA Information and Data-Monthly Statistics.Note:The total industry and regional growth rates are based on a constant sample of airlines combining

169、 reported data and estimates for missing observations.Airline traffic is allocated according to the region in which the carrier is registered;it should not be considered regional traffic.-100102030405060AFEFFNFPMFPSWF%Q2 2024Q3 20240510152025303540AFEFFNFPMFPSWF%Q2 2024Q3 2024-505101520253035%020406

170、080100120Asia PacificEuropeNorth America Middle EastAfricaLatin America201920202021202220232024Index,2019=100051015202530%010020030040050060070080090020152016201720182019202020212022202320242025Asia Pacific(Delivered)ScheduledNumber of commercial aircraftShare of total,%1RPKASKCTKACTKTOTAL MARKET100

171、7.86.511.06.785.244.6Asia Pacific31.612.68.913.89.084.247.5Q3 2024,%YoYPLFCLF 25 Quarterly Air Transport Chartbook-Q3 2024 4.4.Europe European airlines reported a 7%YoY increase in passenger traffic in Q3 2024 despite continued airspace closures in Russia and Ukraine that severely impacted operation

172、al efficiency.The largest route area for the region remains intra-European travel,reaching an all-time high of 337 billion RPK and growing 7%YoY.This demonstrates high connectivity and demand within the region.The Europe-North America corridor ranks second.On this route,RPK grew by 4%YoY,reaching ne

173、w highs in air passenger traffic.The Europe-Asia route,despite leading in YoY growth with a 21%increase in Q3,ranks as the third-largest route in terms of overall traffic volume and remains 10%below 2019 levels(Chart 48).European seat capacity expanded by 6.7%YoY,with the region achieving an impress

174、ive PLF of 87.6%-the highest among all regions.The Europe-Central America route recorded the top PLF at 91%,closely followed by Europe-South America and Europe-North America,both reaching 89%,underscoring strong demand across key segments(Chart 49).Flights within Europe also recorded high PLF at 88%

175、.Notably,all route areas serving Europe saw higher PLF than the previous quarter,reflecting seasonal trends and strong demand across key segments.Air cargo traffic carried by European airlines increased by 12.4%YoY measured in CTK,1.4 percentage points higher than the industry average.In the meantim

176、e,cargo capacity provided by European airlines increased by 7.9%YoY,resulting in a CLF of 50.6%,the highest among all regions.The EuropeAsia trade lane remains the second largest in the world regarding cargo traffic volumes and achieved a CLF of 67%,the highest among all trade lanes.The fastest annu

177、al growth serving Europe is seen at the Europe-Middle East route,with an increase of 26%YoY,followed by Europe-Asia and Within-Europe,both grew by 16%YoY(Chart 50).The Europe-Africa route is the only trade lane serving the region where growth has actually accelerated over the past year,to a 12%annua

178、l growth rate in Q3.Top destinations for European travelers extend across North America,Latin America,the Middle East,and Asia.The US remains the top destination for European travelers,with traffic between Europe and the US rising by a solid 11%YoY(Chart 51).Asian destinations received the highest g

179、rowth in passengers in Q3.Among them,traffic from Europe to China led the growth with a 56%YoY increase,followed by Japan at 29%,and India and Thailand both at 18%.The only decline was seen in travel to Israel,which dropped by over 20%due to the conflict in the region.European destinations are expec

180、ted to see higher passenger volumes in Q4 than last year,based on Q3 ticket sales data.Key destinations such as UK and Southern Europe,including Spain and Italy,can anticipate YoY growth of 5-10%during the upcoming holiday season(Chart 52).Greece is set to lead with a 17%YoY increase in Q4,the highe

181、st in Europe.Conversely,Trkiye is the only destination expected to see a decline in passenger traffic,decreasing by 6%compared to a year before.European airlines continue to ramp up fleet expansion,with 328 aircraft deliveries planned for 2024 and an additional 403 scheduled for 2025(Chart 53),thoug

182、h much uncertainty surrounds actual deliveries.Nevertheless,a steady increase in deliveries since 2021 reflects confidence in sustained growth and the need to modernize fleets to support evolving demand across Europes network.26 Quarterly Air Transport Chartbook-Q3 2024 Chart 48:Europe,international

183、 air passenger traffic by route area,%YoY Source:IATA Sustainability and Economics using data from IATA Information and Data.Note:AE=Africa and Europe;EC=Europe and Central America/Caribbean;EF=Europe and Far East;EM=Europe and Middle East;EN=Europe and North America;ES=Europe and South America;WE=W

184、ithin Europe.Chart 49:Europe,air passenger load factor by route area,%of ASK Source:IATA Sustainability and Economics using data from IATA Information and Data.Note:AE=Africa and Europe;EC=Europe and Central America/Caribbean;EF=Europe and Far East;EM=Europe and Middle East;EN=Europe and North Ameri

185、ca;ES=Europe and South America;WE=Within Europe.Chart 50:Europe,international air cargo traffic by route area,%YoY Source:IATA Sustainability and Economics using data from IATA Information and Data.Note:AE=Africa and Europe;EC=Europe and Central America/Caribbean;EF=Europe and Far East;EM=Europe and

186、 Middle East;EN=Europe and North America;ES=Europe and South America;WE=Within Europe.Chart 51:Traffic from Europe and its top 10 destinations,%YoY Source:IATA Sustainability and Economics using data from DDS.Chart 52:Europe,Q4 travels purchased during Q3 by market of destination,%YoY Source:IATA Su

187、stainability and Economics using data from DDS.Chart 53:Europe,aircraft deliveries,2015-2023(delivered),2024-2025(scheduled)Source:IATA Sustainability and Economics using Cirium.1 Percent of industry RPK in 2023 Source:IATA Sustainability and Economics using data from IATA Information and Data-Month

188、ly Statistics.Note:The total industry and regional growth rates are based on a constant sample of airlines combining reported data and estimates for missing observations.Airline traffic is allocated according to the region in which the carrier is registered;it should not be considered regional traff

189、ic.05101520253035AEECEFEMENESWE%Q2 2024Q3 202474767880828486889092AEECEFEMENESWE%Q2 2024Q3 202405101520253035AEECEFEMENESWE%Q2 2024Q3 2024-30-20-100102030405060%-10-505101520%05010015020025030035040045050020152016201720182019202020212022202320242025Europe(Delivered)ScheduledNumber of commercial airc

190、raftShare of total,%1RPKASKCTKACTKTOTAL MARKET1007.86.511.06.785.244.6Europe27.17.06.712.47.987.650.6Q3 2024,%YoYPLFCLF 27 Quarterly Air Transport Chartbook-Q3 2024 4.5.Middle East Passenger traffic for Middle East airlines increased by 5.3%YoY in Q3 2024,measured by RPK.While this growth was positi

191、ve,it was over two percentage points below the industry average and a six-percentage point drop from Q2.This deceleration is observed across all major routes from the region,while traffic largely surpassed 2019 levels this quarter.Routes between the Middle East and Asia,the regions largest passenger

192、 route,led with a 7%increase YoY in Q3,down from 13%in Q2.Following this,routes between the Middle East and North America grew by 5%YoY,while Middle East Europe and Middle East Africa routes saw more modest increases of 3%YoY each(Chart 54).Much of the deceleration can be attributed to the high base

193、 provided by the stellar 2023 for the region.Seat capacity among Middle East airlines rose 5.4%YoY,measured by ASK,trailing the global average by just over one percentage point and reflecting a slight slowdown from the previous quarter.Nonetheless,new record-high ASKs were recorded in two routes:Mid

194、dle EastNorth America and Middle East Asia.Routes between the Middle East and North America achieved the highest PLF at 85.4%,followed by the Middle East-Europe at 83.2%and the Middle East-Africa at 81.4%(Chart 55).Middle East-Asia route,representing the regions largest route area,posted a relativel

195、y lower PLF of 77.3%in Q3 following seasonal dynamics.On average,PLF for Middle East airlines stood at 82.6%,over two percentage points below the industry average.Cargo traffic for Middle East carriers rose substantially by 13.2%YoY in Q3,outperforming the industry average.This growth in demand,coup

196、led with a moderate 3.8%YoY increase in capacity measured in ACTK,raised the CLF to 46.1%,which is more than one percentage point above the global average.The Middle East-Asia trade lane is among the fastest growing corridors in the last decade,second only to the Africa-Asia trade lane,though with a

197、 market size five times as large.This route expanded by 15%YoY in Q3,benefiting from the rapid growth of e-commerce,which has driven significant demand for express and high-value shipments.Meanwhile,the Middle East-Europe route grew most in Q3 by 26%YoY.Other trade lanes connected to the Middle East

198、 also experienced over 5%YoY growth,reinforcing the regions role as a critical link in global supply chains(Chart 56).Passenger traffic from the Middle East to key destinations displayed varied patterns(Chart 57).Q3 traffic to Egypt and Thailand rose by over 10%YoY,followed by traffic to the UK,grow

199、ing by 8%.Passenger numbers to Western Europe,including France and Germany,remained broadly unchanged with Q3 2023 levels.Passengers from the Middle East to South Asia countries saw diverging developments:travelers to India rose by 4%,while to Pakistan and Bangladesh dropped by 6%and 3%,respectively

200、.Meanwhile,some key destinations recorded notable declines.Travel to Trkiye dropped by 28%YoY,and passenger traffic to the US decreased by 15%YoY.Looking forward to Q4,ticket sales data from Q3 suggests an uneven outlook for passenger arrivals across Middle Eastern destinations.Saudi Arabia and the

201、UAE,major tourism hubs,are expected to increase 17%and 5%YoY,respectively,in Q4(Chart 58).Qatar,Bahrain,and Iraq will also likely see more than 10%YoY growth in passenger arrivals.Conversely,passenger arrivals in Israel,Jordan,and Lebanon are anticipated to decrease as ongoing regional conflicts det

202、er tourism while also causing reduced air services.In response to growing demand,Middle Eastern airlines are actively expanding their fleets(Chart 59).By the end of 2024,they expect to add 42 new aircraft,with 108 new ones planned for 2025,marking the largest increase since 2018,though delays will l

203、ikely persist into 2026.This fleet expansion reflects the airlines confidence in sustained demand growth across passenger and cargo segments.28 Quarterly Air Transport Chartbook-Q3 2024 Chart 54:Middle East,international air passenger traffic by route area,%YoY Source:IATA Sustainability and Economi

204、cs using data from IATA Information and Data.Notes:AM=Africa and Middle East;EM=Europe and Middle East;MF=Middle East and Far East;MN=Middle East and North America.Chart 55:Middle East,air passenger load factor by route area,%of ASK Source:IATA Sustainability and Economics using data from IATA Infor

205、mation and Data.Note:AM=Africa and Middle East;EM=Europe and Middle East;MF=Middle East and Far East;MN=Middle East and North America.Chart 56:Middle East,international air cargo traffic by route area,%YoY Source:IATA Sustainability and Economics using data from IATA Information and Data.Note:AM=Afr

206、ica and Middle East;EM=Europe and Middle East;MF=Middle East and Far East;MN=Middle East and North America.Chart 57:Traffic from the Middle East and its top 10 destinations,%YoY Source:IATA Sustainability and Economics using data from DDS.Chart 58:Middle East,Q4 travels purchased during Q3 by market

207、 of destination,%YoY Source:IATA Sustainability and Economics using data from DDS.Chart 59:Middle East,aircraft deliveries,2015-2023(delivered),2024-2025(scheduled)Source:IATA Sustainability and Economics using Cirium.1 Percent of industry RPK in 2023 Source:IATA Sustainability and Economics using d

208、ata from IATA Information and Data-Monthly Statistics.Note:The total industry and regional growth rates are based on a constant sample of airlines combining reported data and estimates for missing observations.Airline traffic is allocated according to the region in which the carrier is registered;it

209、 should not be considered regional traffic.0246810121416AMEMMFMN%Q2 2024Q3 20246870727476788082848688AMEMMFMN%Q2 2024Q3 2024-505101520253035AMEMMFMN%Q2 2024Q3 2024-35-30-25-20-15-10-5051015%-50-40-30-20-1001020%02040608010012014020152016201720182019202020212022202320242025Middle East(Delivered)ScheduledNumber of commercial aircraftShare of total,%1RPKASKCTKACTKTOTAL MARKET1007.86.511.06.785.244.6Middle East9.45.35.413.23.882.646.1Q3 2024,%YoYPLFCLF Iata.org/economics economicsiata.org