Airbus soars in Latin America as air travel demand accelerates
The Airbus A330 plays a key role in meeting Latin America’s growing demand for widebody aircraft, contributing to record deliveries and strengthened regional connectivity in 2024
In 2024, Europe-based aircraft manufacturing giant Airbus delivered 766 commercial aircraft worldwide, surpassing the previous year’s total of 735, with 53 delivered to Latin American carriers. The company has been pointedly strengthening its strategic position in Latin America, particularly in Chile.
Damien Sternchuss, Vice President and Head of Airline Marketing, Airbus Latin America & Caribbean says, “In 2024, Airbus achieved significant financial success, marked by record revenues and strong operational performance. The company reported consolidated revenues of €69.2 billion [US$74.7 billion], a 6% increase from the previous year. Its net profit reached €4.23 billion [US$4.53 billion], a 12% rise compared to 2023.”
Chile has emerged as a significant market, receiving more than half of the region’s new aircraft deliveries in 2024.
Damien Sternchuss, Vice President and Head of Airline Marketing, Airbus Latin America & Caribbean
Widebody growth
Beyond the single-aisle market where Airbus has established dominance, the company is experiencing significant growth in its widebody segment.
Sternchuss says, “Over the past years we have seen a big order intake for our widebody aircraft, confirming that we have the best products for that market segment. If we just look at 2024, the A330 and the A350, we received 224 gross orders and we delivered 89 aircraft.”
These figures included several milestone deliveries, including the first A350 to Emirates. In Latin America, the company announced a Memorandum of Understanding with the Abra Group for five A350 aircraft.
Sternchuss emphasizes the strategic importance of expanding the A350’s presence in the region, to strengthen air connectivity between Latin America and the rest of the world. He describes the A350 as, “the world’s most modern and efficient widebody aircraft and the long-range leader in the 300-410 seater category, flying efficiently from short-haul to ultra-long-haul routes up to 9,700 nautical miles.”
Rising demand across the region
The growing demand for aviation services across Latin America stems from several factors beyond just population growth and the rising middle class, according to Sternchuss.
He explains, “The increasing demand for aviation services across Latin America is being driven by a combination of economic, technological and structural factors. As GDP (gross domestic product) per capita in the region is projected to grow faster than the global average over the next decade, more people are gaining the financial means to travel by air, both for leisure and business.”
Sternchuss notes that the expansion of low-cost carriers in key markets like Brazil, Mexico, Chile and Colombia have made air travel significantly more affordable and accessible. “This democratization of air travel has led to a significant increase in passenger traffic on both domestic and intra-regional routes,” he says.
Recent industry data confirms this growth trajectory, with IATA reporting global air passenger demand hitting a record in 2024. Total full-year traffic in 2024 (measured in revenue passenger kilometers or RPKs) rose 10.4% compared to 2023. In Latin America that RPK rose 7.8%.
“Domestic and international passenger traffic in Latin America is expected to grow at an annual rate of 5.5% until 2027 as a result of the pandemic recovery,” says Sternchuss. “In the medium to long-term, traffic will return to pre-pandemic trends and is expected to have an annual growth rate of 3.6% between 2028 and 2043.”
These projections translate to significant changes in travel patterns across the region. “In Latin America yearly trips are expected to grow from 0.48 annual trips per capita in 2023 to 0.94 annual trips per capita in 2043. Travel rates per capita will double in Peru and more than double in Brazil, Chile and Colombia,” he shares.
As Latin America’s largest airline, LATAM plays a central role in the region’s aviation growth – its single-aisle fleet is made up entirely of Airbus aircraft, and the airline contributes to the manufacturer’s strong market presence
Future fleet requirements
According to Airbus’ Global Market Forecast (GMF), Latin America and the Caribbean will require approximately 2,600 new aircraft over the next 20 years to meet growing demand. The passenger and freighter fleet is projected to grow from 1,560 in 2023 to 2,670 aircraft by 2043, with 2,570 fulfilled by new aircraft deliveries and 100 remaining from today’s fleet.
Single-aisle aircraft will continue to dominate, accounting for 90% of total new deliveries (about 2,300 aircraft), while widebody aircraft will represent the remaining 10% (approximately 270 units).
This forecast is driven by several demographic and economic factors. The region is expected to see population growth of 74 million inhabitants over the next two decades, with the middle class expanding by 87 million people to represent two-thirds of the total population by 2043. The region’s average GDP is projected to grow at 2.9% CAGR (compound annual growth rate) through 2043, slightly above the world average.
Rafael Echevarne, Director General of Airports Council International, Latin America & Caribbean, confirms that capacity constraints are already affecting regional growth. “The forecast by Airbus highlights both the tremendous potential of the Latin American and Caribbean aviation market and the urgency of ensuring sufficient capacity to meet that demand. Unfortunately, we are already seeing cases where growth ambitions are being held back due to aircraft shortages.”
Regional infrastructure development
Meeting this projected growth will require substantial development. “Strengthening the region’s infrastructure is vital for maintaining competitive and efficient air travel,” says Sternchuss. “This includes both passenger terminals and cargo facilities, especially as international trade and tourism expand.”
These developments create opportunities for specific aircraft types to serve different market segments. “We see a huge potential for the aircrafts like the A220 perfect for airlines’ domestic expansion,” Sternchuss points out. “The A220 offers a unique ability to fly both regional and longer-range missions with one single aircraft type. Its superior range capability allows more destinations to be served while being more fuel-efficient and having lower operating costs per trip.”
For established routes, Sternchuss mentions another model, “The A321neo helps airlines to consolidate mature markets with established demand and will help capture further growth in the most profitable way for airlines.”
Sustainability roadmap
As passenger numbers increase, sustainability becomes increasingly critical. Airbus is working with regional stakeholders to advance decarbonization efforts aligned with 2050 goals. Sternchuss says, “We cannot leave our decarbonization roadmap out. At Airbus we are working towards our ambition of pioneering sustainable aerospace and to deliver on the industry’s objective of net-zero emissions.
“Achieving these targets requires a collective effort from governments, industry partners and stakeholders. Establishing robust regulatory frameworks is essential to drive market stability and unlock private investment in SAF, advanced technologies, optimized air traffic management and carbon dioxide removal solutions,” he emphasizes.
Recent progress includes new regulatory frameworks in Brazil, roadmaps in Colombia, and ongoing work in Chile. Airbus has also partnered with the International Civil Aviation Organization to support Sustainable Aviation Fuel feasibility studies for Argentina, Panama and Peru.
Sternchuss says, “This is a defining moment and at Airbus we are proud to lead the way not only delivering fuel-efficient aircraft advancing through sustainable aviation fuels and technologies but also supporting the industry.”
