Amazing January: Air Traffic in Latin America and the Caribbean grew by 7.6%
The increase is equivalent to almost 3 million additional passengers vs. January 2023. This figure exceeded not only the passenger volume of January 2023, but also the peak recorded in July last year.
March 20, 2024
March 20, 2024 – 2024 started on good wings. Passenger traffic in Latin America and the Caribbean grew by 7.6% in January this year, an increase equivalent to almost 3 million additional passengers vs. January 2023. This figure exceeded not only the passenger volume of January 2023, but also the peak recorded in July last year.
In January, 41.7 million passengers were carried within, to and from the region, highlights the Passenger Traffic Report, developed by the Latin American and Caribbean Air Transport Association (ALTA).
"The report for this month reflects an amazing start to the year. The increase in flight frequencies and capacity offered in both the domestic and international markets underscore the potential for continued growth in our countries for an essential service. This data tells us that 2024 is shaping up to be a promising year for the region," said José Ricardo Botelho, ALTA's Executive Director & CEO.
Seat offering also experienced growth, reaching 51.2 million available seats, 5% more vs. 2023. The growth in the international market stands out, with a 15.7% increase, while the domestic market saw a 3.5% reduction.
"The positive passenger traffic figures for January are not only indicative of a booming sector, but also a wake-up call on the importance of fostering aviation development in our region. These data reflect an encouraging outlook, however, in order to fully capitalize on this positive momentum, it is critical to establish an enabling environment that provides the legal certainty, predictability and competitiveness necessary for aviation's continued growth. These figures are a reminder that aviation is not only a means of transport, but also a vital industry that requires attention and support to thrive and fully contribute to the progression of our region," Botelho reminds.
Domestic market
Venezuela stood out as one of the countries with the highest growth in the domestic market. With a 199,291 passenger traffic, it reached a 36% increase vs. 2023. Meanwhile, Chile experienced a significant 21% increase in domestic traffic, adding 1.7 million passengers.
Brazil recorded an 8.1 million passenger traffic, reaching 98% of the traffic volume seen in the same period of 2023. Colombia's domestic market grew by 2% vs. 2023, carrying a total of 2.8 million passengers, representing a slight slowdown from December, when a 4% increase was recorded.
Mexico experienced a 3% decrease in the total passenger traffic, reaching 4.8 million passengers. This figure shows a continued slowdown trend, following a 1% reduction in the domestic market seen in December.
"Since June 2023, the Mexican domestic market has faced challenges because of required inspections for GTF engines, which has resulted in the temporary grounding of some aircraft while overhauls are performed. Furthermore, following Mexico's recent return to Category 1 status by the FAA, local airlines have been able to increase the capacity offered to the U.S., reflecting an effort to expand their presence and services in this important market," the report explains.
International market
The increase in international traffic in the region was also notable, with a 14% rise, representing 20.3 million passengers. Venezuela again stood out in this field with a 58% increase, being Caracas-Madrid (+33%) the route with the highest growth. Colombia also showed a significant growth, carrying 1.9 million international passengers, representing a 30% increase vs. January 2023, and 457,939 additional passengers. Brazil, likewise, experienced a 26% increase in international passengers, reaching 2.3 million.
Traffic Breakdown:
Domestic Market: 21.4 million passengers (+1.8%)
International Market: 20.3 million passengers (+14%)
Intra-regional: 4.8 million passengers (+17.5%)
Extra-regional: 15.5 million passengers
Growth by country:
Venezuela: +36% (domestic) / +58% (international)
Belize: +49% (domestic)
Chile: +21% (domestic)
Colombia: +30% (international)
Dominican Republic: +13% (international)
Argentina: +33% (international)
Other Indicators:
Demand (RPK): +10.4%.
Offer (ASK): +5.2%.
Load factor: 85.4% (+4.9%)
