Global Airline Load Factors Match Pre-Pandemic Levels

Global airline load factors reached 85.3% in November, according to IATA’s latest traffic report, matching pre-pandemic levels for the first time during a traditionally slower shoulder month.

International traffic led the recovery with load factors hitting 84.8%, while domestic markets averaged 86.1% across all regions.

Regional Performance

Asia-Pacific airlines posted the strongest year-over-year improvement, with load factors up 4.2 percentage points as Chinese outbound travel continues normalizing. Middle Eastern carriers maintained premium load factors above 82% despite capacity additions.

North American airlines reported stable performance with domestic loads averaging 86.7%, supported by strong holiday booking patterns heading into December.

Yield Implications

Higher load factors correlate with improved unit revenues, though analysts note that promotional pricing contributed to filling marginal seats. Average fares remain 8-12% above 2019 levels when adjusted for inflation.

Airlines have responded by accelerating widebody returns, with several carriers bringing A380s back into service for high-density routes where demand exceeds narrowbody capacity.