Global Air Traffic Approaches Pre-Pandemic Levels

The International Air Transport Association (IATA) announced on Wednesday that global air traffic in November reached 99.1% of 2019 levels, indicating a remarkable recovery in international travel.

Although the growth rate of global air travel slightly declined in November, it remained robust, with revenue passenger kilometers (RPKs) soaring by 30% compared to the same period last year. The international sector experienced a notable increase of 26%, driven by a staggering 65% growth in the Asia-Pacific region. However, it is important to note that international traffic still sits at 5.5% below the levels recorded in 2019.

On the other hand, domestic air travel surged by 35%, reaching an impressive 106.7% of 2019 levels. This growth can be attributed to China's recovery from pandemic-related travel restrictions and the unprecedented demand during the Thanksgiving holiday in the United States.

Willie Walsh, the director general of IATA, expressed optimism about the imminent surpassing of the peak year for air travel in 2019. Despite economic challenges, people's desire to take to the skies remains unwavering.

It is worth mentioning that while air travel demand has been steadily increasing, jet fuel consumption has not risen at the same pace. This discrepancy can be attributed to the fact that modern planes are designed to be more fuel-efficient, thus burning significantly less fuel.

According to the International Energy Agency's forecast from last month, global demand for jet fuel and kerosene is expected to remain relatively stable through 2024, averaging at around 7.2 million barrels per day.