The International Air Transport Association (IATA) released data for November 2025 global passenger demand with the following highlights:
- Total demand, measured in revenue passenger kilometers (RPK), was up 5.7% compared to November 2024. Total capacity, measured in available seat kilometers (ASK), increased 5.4% year-on-year. The load factor was 83.7% (+0.3 ppt compared to November 2024), a record high for November.
- International demand rose 7.7% compared to November 2024. Capacity was up 7.1% year-on-year, and the load factor was 84.0% (+0.4 ppt compared to November 2024).
- Domestic demand increased 2.7% compared to November 2024. Capacity was up 2.7% year-on-year. The load factor was 83.2% (unchanged compared to November 2024).
“November 2025 saw continued strong demand for air travel with year-on-year growth of 5.7%. Load factors reached a new record of 83.7% for the month as airlines continued to satisfy growing passenger demand amid continuing capacity constraints stemming from challenges in the aerospace supply chain. The new year’s resolution for the manufacturing sector must be to increase production to meet the needs of their airline customers. The backlog of more than 17,000 aircraft orders that we reached in 2025 must be reduced in 2026,” said Willie Walsh, IATA’s Director General.
Air Passenger Market in Detail November 2025 (% year-on-year) World Share1 RPK ASK PLF(%-PT)2 PLF(Level)3
| Total Market | 100% | 5.7% | 5.4% | 0.3% | 83.7% |
| Africa | 2.2% | 12.6% | 9.1% | 2.3% | 75.1% |
| Asia-Pacific | 33.5% | 7.8% | 6.8% | 0.7% | 85.4% |
| Europe | 26.7% | 6.1% | 5.4% | 0.5% | 86.0% |
| Latin America and the Caribbean | 5.3% | 3.9% | 3.9% | -0.1% | 84.2% |
| Middle East | 9.4% | 9.5% | 9.2% | 0.2% | 81.5% |
| North America | 22.9% | 0.1% | 1.4% | -1.1% | 80.3% |
1) % of industry RPK in 2024 2) Year-on-year change in load factor 3) Load Factor Level
Regional Breakdown – International Passenger Markets
International RPK growth was a healthy 7.7% in November year-on-year. The international load factor, at 84.0%, was also a November record high. Compared to October, growth was slightly down in all regions except Africa.
Asia-Pacific airlines achieved a 9.3% year-on-year increase in demand. Capacity increased 8.7% year-on-year, and the load factor was 85.8% (+0.5 ppt compared to November 2024). Geopolitical tensions led to traffic between China and Japan slowing to single-digit growth for the first time in 2025.
European carriers had a 6.8% year-on-year increase in demand. Capacity increased 6.1% year-on-year, and the load factor was 85.6% (+0.5 ppt compared to November 2024).
North American carriers saw a 4.0% year-on-year increase in demand. Capacity increased 4.2% year-on-year, and the load factor was 81.0% (-0.1 ppt compared to November 2024). Looking at total traffic, North America has seen 10 consecutive months of year-on-year decline in load factor.
Middle Eastern carriers saw a 9.6% year-on-year increase in demand. Capacity increased 9.2% year-on-year, and the load factor was 81.4% (+0.3 ppt compared to November 2024).
Latin American airlines saw a 4.4% year-on-year increase in demand. Capacity climbed 4.7% year-on-year. The load factor was 83.9% (-0.2 ppt compared to November 2024).
African airlines were the stand-out performer, with an 11.2% year-on-year increase in demand. Capacity was up 8.5% year-on-year. The load factor was 74.3% (+1.8 ppt compared to November 2024).
Domestic Passenger Markets
Domestic RPK rose 2.7% over November 2024 and load factor was steady at 83.2% on the back of a 2.7% capacity expansion. Brazil and India were the fastest-growing markets. Domestic U.S. traffic was the only major market to see a fall in demand, perhaps due to the government shutdown.
November 2025 (% year-on-year) World Share1 RPK ASK PLF(%-PT)2 PLF(LEVEL)3
| Domestic | 38.2% | 2.7% | 2.7% | 0.0% | 83.2% |
| Domestic Australia | 0.8% | 2.1% | 5.7% | -3.0% | 82.6% |
| Domestic Brazil | 1.1% | 8.3% | 7.4% | 0.7% | 85.9% |
| Domestic China P.R. | 11.3% | 6.3% | 5.2% | 0.9% | 82.9% |
| Domestic India | 1.7% | 7.7% | 8.7% | -0.9% | 88.5% |
| Domestic Japan | 1.0% | 3.6% | 0.3% | 2.8% | 87.1% |
| Domestic United States | 14.4% | -1.8% | 0.2% | -1.6% | 79.6% |
1) % of industry RPK in 2024 2) Year-on-year change in load factor 3) Load Factor Level
View the November 2025 Air Passenger Market Analysis (pdf)
