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.
North America is leading the globe in airline seat growth, passenger load factors, & general travel heading into 2024. Many corporates are focused on travel budgets for the year ahead & are working with us to develop new ways of managing costs.
Ashley Gutermuth, Director of FCM Consulting, Americas
Want more insights? There’s plenty in our report.
What are the main highlights of Q3-2023?
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Global passenger load factors (PLF) have been on the up, rounding out at 84.6% for the quarter. The U.S. is leading the way with a PLF of 84.5%
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Airfares are looking to rise 3-7% in 2024, driven in part by global inflation levels - North America had the lowest YTD increase compared with 2019 at +17%
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An increase in business travel is anticipated for 2024, pending economic conditions and global stability