Passengers in Latin America returned to pre-pandemic numbers

The passenger traffic in Latin America and Caribbean they returned to pre-pandemic numbers, showing the recovery of the industry, mainly in Mexico, Dominican Republic and Colombia.

On 2022, December was the month in which the Latin American and Caribbean region (LAC) transported the eldest number of passengers with a total of 32,3 millions, number that corresponds to 99.9% of passengers compared to the same month of 2019 and represents an advance compared to the immediately previous month when the region reached 97% of their levels 2019.

Latin America and the Caribbean recover

What's more. LAC remained the world region with the greatest recovery, overcoming the North America which was located at 92% of their levels 2019, middle east with 95%, Europe 83%, Africa with 90% and Southeast Asia with 78%.

This is the second time the region has reached its pre-pandemic levels, Well, in September 2022 the region reached a 101% of their levels of 2019. On the other hand, last year they were transported to about 330,5 million passengers in the region and, in the accumulated, the region was consolidated in 9% below their levels 2019.

Regarding international passenger traffic Dominican Republic, Colombia and Mexico continue to excel with very positive growth rates: 17%, 14% and 6%, respectively. For his part, Brazil, Chile and Argentina experienced a slowdown compared to the immediately previous month, meeting with 78%, 84% and 71% respectively. In November, Peru reached 71% of their levels of 2019.

domestic transport, instead, has recovered faster. in that realm, Colombia and Mexico lead the way in the region. In December Colombia grew 12% and Mexico 15% above their pre-pandemic levels. Argentina was positioned with 96%, Brazil 87% and Chile 89% of their levels 2019. The same way, and according to the data from November 2022, Peru showed a deceleration reaching a domestic recovery of 94%.

During all the 2022, Mexico transported 106,9 million domestic passengers (+5% with respect to 2019), Colombia transported 47,9 million domestic passengers (+16%), Dominican Republic 15,5 millions (+8%), Brazil 97,6 millions (81.9%), Chile 20,3 millions (78%) and Argentina 21,5 millions (70,5%).

Regional domestic traffic grew 1,2% above their levels 2019, extra-LAC international traffic grew 0,8%, while intra-LAC has been recovering more slowly, reaching 7,4% below their levels 2019.

High costs

Air transport uses local inputs, impacted by inflation in each country. The combustible maintains historically high prices. The 23 of January of 2023, the price of jet fuel was 183% above their January levels 2021%.

The differential between the price of a barrel of oil and the combustible has increased, while, in January 2021, the price of jet fuel was 14% higher than oil, today that price differential is 49%. Currently, the combustible is equivalent to 50% of an airline's cost structure vs. Q1 2022 where was equivalent to 36% and the increase has been such that a year before it represented the 20% of operational costs.