HomeLifeVenezuela leads growth of the international air market

Venezuela leads growth of the international air market

The sector registered an increase of 68% in March in Latin America

The airline sector in Venezuela has experienced significant growth since 2023, which shows that there will be sustained growth this year.

This growth is not only reflected in national and international air operations, but also in the movement of passengers, whose rate has come to stand out in the Latin American market.

The National Institute of Civil Aviation (Inac) highlights in its report that this growth recorded in air operations in Venezuela is motivated by the reopening of airports and the opening of new domestic routes to destinations such as Táchira, Anzoátegui, Mérida, Nueva Esparta, Zulia, among others, and international ones such as the opening to markets in Europe and Asia.

domestic market

During the month of March, Venezuela registered an increase in domestic traffic, moving 188.500 passengers, mainly driven by the growth in flights on the routes to Maturín and Porlamar.

Last March the growth in air operations was 30%, although in February it was 35%, but it must be taken into account that February was the carnival holiday season, according to a report from the Latin American Association and of the Caribbean Air Transport (Alta).

The number of passengers on domestic routes registered a 29% growth last March compared to February, which was 188.273 passengers, driven mainly by the Caracas-Barcelona and Caracas-Maturín routes.

International market

In the international market, Venezuela is among the three Latin American countries that showed the highest percentage increase in its international connectivity last March, with a growth of 38%, along with Trinidad and Tobago (45%) and El Salvador (41%). %).
It registered an increase in international passenger movement of 68% in March, compared to 66% in February, according to Alta.

“Venezuela emerged as a clear líder, registering a surprising increase of 68%”, highlights José Ricardo Botelho, executive director of Alta when referring to the international air market.

Latin America registers dynamism in aviation

The Latin American and Caribbean region registered significant movement and growth in the air sector last March, according to Alta's passenger traffic report.

According to José Ricardo Botelho, CEO of Alta, 41,1 million passengers flew to and from the region in March, which represents an 8% increase in passengers transported compared to March 2023.

Brazil, Colombia and Peru were key in this growth, contributing 1,5 million additional passengers and Colombia contributed 26%.

Botelho highlights that the domestic market experienced a growth of 2,4%, while the international market showed an increase of 14%.

He noted that at the domestic level, Colombia established a significant record, demonstrating its ability to drive growth in the sector, while Venezuela surprised in the international market.

“The data show that demand continues to rise and give us a good growth perspective, especially if we look at the first quarter of the year, when 120,8 million passengers were transported, which represents an increase of 9% compared to the first quarter. 2023,” he indicated.

The Alta report highlights that the load factor in March 2024 was 82,8% compared to 81,5% in 2023, which represents a growth of 1,3%.

Fuel: a challenge

The Latin American and Caribbean Air Transport Association considers that this increase in air traffic generates greater demand for fuel.

During the month of March, the average price of jet fuel was $111,13 per barrel, reaching a maximum of $115,25, which represented an increase of 2% compared to February, and an increase of 9% compared to April 2023, so he believes this puts additional pressure at a time when the industry faces numerous obstacles.

The Alta report points out that the governments of the region must recognize the strategic importance of aviation as an essential service for the population that guarantees sustained growth.

In March

  • Domestic traffic in the region recorded 2,4 percent growth, reaching 20,7 million passengers, while the international market grew 14% with 20,4 million passengers.
  • 82,3 percent was the load factor for domestic flights in the region, against 80,6% and 84,6% for intraregional and extraregional flights, respectively.
  • Brazil recorded 7,5 million passengers, representing an increase of 1% compared to February. The most popular route was Brasilia-Sao Paulo with 198.300 passengers.
  • Colombia registered 2,6 million domestic passengers, which represents 9,3% growth. The most demanded route was Bogotá-Pereira.
  • Mexico registered 4,9 million passengers in the domestic market, which represents a decrease of 7%, due to the reduction in operating capacity.
The opening of airports activated new frequencies

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