FCM Consulting Global Quarterly Trend Report Q3-2023
The end of this year brings one thing to mind: airline seat capacity. Levels are just -2.2% of 2019 numbers, but it looks like that will all change in Q1-2024 when airlines around the globe are forecasted to add 71.8 million more seats – that’s +5.3% on the same period in 2019. Most of those gains can be attributed to North America and the Asian Pacific, while Europe, the Middle East, and Africa are experiencing more conservative growth.
APAC has seen significant change in the past 6 months as China opened up. We are now seeing strong confidence in seats offered into 2024, however, there is still a conservative approach to airline schedules in 2024 from some airlines.
Felicity Burke, Director of FCM Consulting, APAC
What are the main highlights of Q3-2023?
Global passenger load factors have been on the up, rounding out at 84.6% for the quarter
Airfares are looking to rise 3-7% in 2024, driven in part by global inflation levels
An increase in business travel is anticipated for 2024, pending economic conditions and global stability
What are the main things to know from Q3-2023?
- Major travel trends for the quarter and moving into 2024
- Details on NDC progress
- Insights on upcoming initiatives on emissions reporting
- Airline seats forecasts
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