Airlines are gearing up for another historic year in Spain. Spanish airports already surpassed pre-pandemic passenger traffic last year, reaching a new record of more than 283 million travelers, according to Aena’s records. Now, they forecast a summer of records and are preparing to ramp up the number of flights to meet another wave of demand.
Airlines operating in the Spanish market currently have flights with 240.3 million seats scheduled for this summer season, spanning April to October, which is 13.5% higher than the capacity actually operated in last year’s summer season and marks a new high, according to data released this Tuesday by the Airline Association (ALA). Final scheduling typically evolves as the season approaches, and seats generally tighten closer to departure. Still, comparing the current seat capacity with last April’s figures reveals a robust 9.7% increase.
“These figures show supply in seats. Demand and aircraft load factors are another matter. Current occupancy sits around 87%, so with this level of available seats, it’s reasonable to expect a record passenger traffic summer. It also points to a potentially record year,” predicts the president of ALA, Javier Gándara. “People are flying more than ever.”
There is optimism, but with some caution across the aviation sector due to potential impacts from geopolitical tensions and active conflicts, fuel price volatility, inflation trends, and possible broader economic shifts. Despite these factors potentially affecting ticket prices, the industry association rejects the idea that there is or will be a broad-based fare increase.
“Last year they already said flying would be expensive, but demand remained. If flying were as costly as some claim, passenger numbers wouldn’t be so high. This summer’s travel will remain competitive,” Gándara noted at a media briefing. “For flights on high-demand days and when booked well in advance, prices can be high. Dynamic pricing means there isn’t just one price, but nearly one price per passenger. Average prices tell only part of the story; travelers can still find very competitive fares.”
From the ALA’s perspective, the potential impact of fuel prices driven by developments in the Middle East will be felt in the coming months. Airlines are responding with hedging strategies that lock in a portion of kerosene consumption, helping to stabilize costs. Most European carriers have hedged between 50% and 60% of their fuel needs one to two years ahead, reducing the risk of sudden fuel-cost shocks and the need to raise ticket prices. [Citation: ALA briefing, 2024]
Overall, the sector remains hopeful about a strong travel season while continuing to monitor geopolitical and economic developments that could influence pricing and demand. The overarching message from industry leaders is measured optimism: more seats, steady occupancy, and vigilance on costs and competition to keep air travel accessible for travelers across Spain and beyond. [Citation: ALA forecast briefing, 2024]