The world's airline industry posted yet another banner month in March, as demand for international passenger service grew 10.3 percent and cargo demand increased 28.1 percent over the same month a year earlier, according to statistics released today by the International Air Transport Association. Both figures represent improvements over the 9 percent and 26.3 percent respective passenger and cargo growth recorded by the industry in February.
Meanwhile, the industry posted a record load factor of 78 percent, as the 10.3-percent passenger traffic gain far outpaced a 2-percent capacity increase. International freight markets also continued to experience tighter supply and demand conditions, as the 28.1-percent demand improvement and a 5.3-percent capacity expansion resulted in a load factor of 57.1 percent-the highest rate since the industry posted a 5.8-percent load factor in November 2002.
