July 07, 2026
According to the International Air Transport Association (IATA) data for the month of May, total global passenger demand, measured in revenue passenger kilometers (RPK) in was down 2.2% compared to May 2025. Excluding the Middle East, demand grew by 0.7%.
Total capacity, measured in available seat kilometers (ASK), decreased 2.3% year-on-year. The load factor was 83.5% (+0.1 ppt compared to May 2025), a record high for May.
International demand fell 1.6% compared to May 2025. Excluding the Middle East, demand grew by 3.1%. Capacity was down 2.4% year-on-year, and the load factor was 83.7% (+0.7 ppt compared to May 2025).
Domestic demand contracted 3.1% compared to May 2025. Capacity decreased 2.1% year-on-year. The load factor was 83.0% (-0.8 ppt compared to May 2025).
"Overall, May demand still appeared to be largely resilient in the face of high fuel prices and air fares. While the recent sharp drop in oil prices is an encouraging development, the challenges created by the war will likely persist for some time. Oil supply through the Strait of Hormuz remains uncertain and it is likely to take time before the benefit of lower oil prices is reflected in 'normalized' jet fuel pricing. In the meantime, airlines who are operating on a 2.0% margin will have little choice but to continue testing demand resilience with higher fares that attempt to cover elevated fuel costs," said Willie Walsh, IATA's Director General.
Source: IATA