FCM report: Global seat capacity up
Seat capacity has continued its upward trajectory in the third quarter of 2023.
Whilst air travel demand was still growing and positive, the increases have moderated for a third quarter, according to FCM Consulting’s latest Global Quarterly Trend Report.
It forecasts +71.8 million (+5.3%) more seats globally than 2019.
However, the final 2023 seat capacity is forecast to be 2.2% below 2019.
The report finds Europe is the only region with overall reduced capacity – down 2%.
Elsewhere, Africa leads the way with a predicted increase of 14%, followed by Middle East (up 11%), The Americas (8 and Asia (7%)
Australasia will be flat, it says.
One of the biggest obstacles faced during the recovery period has been lack of airline capacity and competition but conditions are improving.
This is expected to benefit business travellers as the years progress.
However, there is still concern remains regarding the lack of available seats on Australia – Europe services via the Middle East.
As reported IATA in August 2023, global passenger load factors were at 84.6%.
When it comes to accommodation, hotel occupancy levels averaged 68% in 2023.
Over the past six months corporate average room rates have plateaued, signalling rate stability.
In terms of car hire, the overall global average daily rate (ADR) has increased by 4%.
Andy Hegley, MD for FCM UK, Ireland and the Netherlands, said; “This continuous growth throughout the travel industry is encouraging and something we all counted on.”
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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