Global Airline industry performance
As of Q3 2024, the global airline industry has experienced continued recovery, marked by growth in passenger demand, profitability, and opera onal efficiency. However, the industry faces several challenges, including fuel price volatility, labor issues, and geopolitical instability. Below are the key highlights of the global airline industry performance in Q3 2024, referencing OAG’s data. Global airline revenues have increased to approximately $112 billion in Q3 2024, marking a 4% year-on-year growth compared to Q3 2023. According to OAG data, this growth has been driven primarily by higher cket prices and strong international travel demand. Airlines globally have seen a consistent recovery in both leisure and business travel, especially in long-haul markets. Notably, North America and Europe have been the strongest performing regions, with continued recovery in air traffic and capacity utilization. During the Third Quarter of 2024, ASKs reached 105.2% as compared to the ASKs levels of Third Quarter 2023. RPKs in the Third Quarter 2024 reached 103.5% as compared the RPKs levels of the Third Quarter 2023. Figure 1 below illustrates MoM and YoY Global industry ASK and RPK from January 2020 To Date;
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