In the first quarter of 2024, cumulative air passenger traffic increased 9% with 10 million more passengers than in the same period of 2023. The markets of Colombia, Chile, Peru and Brazil were the main contributors to this net passenger growth, as together they added an additional 4.6 million travelers.
Specifically in March, according to the Passenger Traffic Report prepared by the Latin American and Caribbean Air Transport Association (ALTA), 41.1 million passengers were transported in the region, which represented an increase of 8% with an additional 3.05 million compared to March 2023. Brazil, Colombia and Peru were key in this growth, contributing an additional 1.5 million passengers, with Colombia as the main driver, contributing 26% of the total increase.
“The breakdown by market reiterates the encouraging trend of March: the domestic market experienced a growth of 2.4%, while the international market stood out with an impressive increase of 14%,” highlights José Ricardo Botelho, executive director and CEO of ALTA. “The data shows that demand continues to rise. If we look at the first quarter of the year, we see that 120.8 million passengers were mobilized, an increase of 9% compared to the first quarter of 2023. Aviation has not been a luxury for a long time, it is an essential means of transport for the population,” says Botelho.
Mexico’s Domestic Market Declines
During March, Brazil’s domestic market moved 7.5 million passengers, an increase of 1% compared to the previous year. The route between Brasilia (BSB) and Sao Paulo (CGH) was the fastest-growing, with 13% more passengers carried, while the busiest route, Sao Paulo (CGH) – Rio de Janeiro (SDU), saw a 5% decrease.
In Colombia, domestic passenger traffic grew 9.3%, reaching 2.6 million passengers. The route between Bogotá (BOG) and Pereira (PEI) stood out with an increase of 58%, registering 1,264 frequencies in March. Moreover, during this month, the country saw a significant increase in seat capacity in the domestic market.
In Mexico, domestic traffic decreased 7%, totaling 4.9 million passengers. However, the route between Saint Lucia (NLU) and Cancun registered a growth of 56%.
Argentina showed a moderate growth of 1% in its domestic market, while Chile exhibited an increase of 6%, highlighting the Calama (CJC) – La Serena (LSC) route with an increase of 57%.
Venezuela and Panama also experienced significant increases in their domestic traffic, with increases of 30% and 52%, respectively.
Colombia and Venezuela’s international market takes flight
In March 2024, Colombia experienced a 32.3% growth in international air traffic, carrying a total of 1.8 million passengers. Brazil also saw a significant increase of 22%, recording 2.01 million passengers carried during the month. The Dominican Republic increased its international traffic by 13%, reaching 1.8 million passengers.
Mexico saw a 12% increase in international passengers, while Argentina and Chile recorded increases of 17% and 24%, respectively. Venezuela led international growth with 68%.
In the year to date, Venezuela stood out with a 60% increase in traffic. “This is an extremely significant figure, but we assume that in absolute numbers there is still work to be done. That is why ALTA is working with local authorities to promote the most efficient measures to boost the airline sector in the country,” says Botelho.
ALTA’s CEO reiterates that it is crucial for governments in the region to recognize the strategic importance of the aviation industry and promote close collaboration to ensure sustainable growth for an essential sector. There is a need for greater investment in infrastructure and efficient regulation that promotes competitiveness and operational efficiency.
