Air traffic in Latin America and the Caribbean (LAC) reached 37.76 million passengers in May 2025, according to the monthly report by the Latin American and Caribbean Air Transport Association (ALTA). This figure represents a year-on-year growth of 2.6%, equivalent to 959,000 additional passengers. However, the growth rate slowed compared to previous months: April recorded 5.3%, March 4%, and February 5%.
Brazil Leads with Record Domestic Traffic
Brazil was the primary driver of regional growth, achieving its best May on record with 8.2 million passengers on domestic flights—a 14% increase compared to the same month in 2024.
This performance marks the third consecutive month of record highs for Brazil’s domestic traffic, with March, April, and May 2025 being the busiest in history. A key factor has been the reduction in fares, as air travel experienced the steepest deflation among service categories in the country (–11.3% year-on-year). Additionally, private consumption of air transport services grew by 16.9% between January and April.
In the international segment, Brazil also stood out with a 13.2% increase, adding 250,000 more passengers. This growth has been consistent for five consecutive months. International tourist arrivals by air from South America rose by 38% year-to-date, reaching 1.5 million visitors, with a 64% increase. From Argentina, the growth was even more significant: 93% more tourists traveled to Brazil.
Peter Cerdá, CEO of ALTA, emphasized: “The growth of the Brazilian market reflects greater inclusion and accessibility. Over the last 20 years, average domestic fares, adjusted for inflation, have dropped from 851 to 543 reais, while international fares fell from 892 to 665 reais since 2011.” However, he warned of regulatory risks: a proposed tax imposing a 26.5% VAT on tickets could reverse these gains and restrict access to air travel.
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Argentina: The Market with the Highest Percentage Growth
Argentina recorded the highest relative increase in domestic traffic, with a 21% year-on-year rise. International flights also grew by 19%, fueled by a 52% surge in outbound travel by residents.
The most popular destinations were Brazil (+110%), Chile (+99%), and Europe (+45%). This boom is linked to favorable exchange rates and the removal of restrictions that reduced the cost of international travel.
Mexico: Growth with Mixed Signals
Mexico’s domestic traffic grew by 2.1%, adding 109,000 passengers. However, several high-volume routes experienced declines. International flights also saw a 2.1% increase, though the three main routes to the United States showed a reduction in passengers.
Declines in Colombia, Chile, and Traffic with the United States
In Colombia, domestic traffic fell by 6.2% year-on-year, marking four consecutive months of decline. This reflects a challenging environment: in May, the Representative Market Rate (TRM) depreciated by 8.3% year-on-year, and the national carbon tax was raised in February.
In Chile, domestic passenger numbers dropped by 1%. Meanwhile, extra-regional international traffic contracted for the first time since April 2021, with a 0.6% decline.
Intra-Regional: The Most Active Segment
International traffic within the region showed robust growth of 15.4%, with notable increases in Argentina–Brazil, Colombia–Panama, Brazil–Chile, and Argentina–Chile routes.
General Market Indicators
- Capacity (ASK): +3.2%
- Demand (RPK): +3.0%
- Load Factor: 84.4%
- January–May Total: 199 million passengers (+3.9% vs. 2024)
Aviation in Latin America continues to grow, albeit at a more moderate pace. Brazil and Argentina are leading the recovery, while other markets face structural and regulatory challenges that may limit their performance in the coming months.
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