Air Traffic Between Spain and Latin America/Caribbean Continues to Grow in 2024
Over 12 Million Passengers Flew Between Spain and Latin America in 2024, Strengthening Industry Recovery
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The air traffic between Spain and Latin America/Caribbean maintained its growth throughout 2024, solidifying the recovery trend that began in 2023 after the COVID-19 crisis.
Spain has emerged as one of the fastest-growing international markets, surpassing even the record set in 2023. According to the World Tourism Organization (UNWTO), Spain welcomed 93,799,505 international tourists in 2024, marking a 10.1% increase compared to the previous year.
Passenger flows between Spain and Latin America/Caribbean had been steadily increasing before the pandemic, a trend that was disrupted by the global health crisis. However, recovery accelerated in 2023 and 2024, and further expansion is expected.
According to AENA España, 11.4% of travelers arriving in Spain come from Latin America and the Caribbean, while 59.6% come from the European Union, and the remaining 29% from the United States, Canada, the Middle East, Asia-Pacific, and Africa.
Top Airlines Operating Between Spain and Latin America
In 2023, a total of 12,384,014 passengers traveled between Spain and Latin America/Caribbean, with 93.6% passing through Madrid-Barajas Airport (MAD). The remainder traveled through Barcelona (BCN) and Tenerife Norte (TFN).
Spanish Airlines
Spanish airlines continue to dominate this market, holding a 72.4% market share, though this represents a slight 1.5 percentage point decline compared to the previous year.
- Iberia leads with 38.2% of traffic.
- Air Europa follows with 22.1%.
- World2Fly ranks third with 4.2%.
- Plus Ultra (3.1%), Iberojet (2.6%), and LEVEL (2.2%) complete the list.
In 2024, all Spanish airlines increased their passenger numbers, except for Iberojet, which experienced a 19.19% decline. Iberia recorded the highest growth, with a 17.05% increase, driven by expanded frequencies in the region.
Latin American Airlines
Seven Latin American carriers collectively hold a 26.1% market share in Spain – Latin America traffic.
- Avianca is the leading Latin American airline in this market, with 8.2%.
- LATAM follows closely with 8.0%.
- Aeroméxico ranks third with 5.9%.
These three airlines operate at least three routes each between Spain and Latin America, carrying between 1 million and 720,000 passengers annually.
Other airlines with smaller market shares include:
- Aerolíneas Argentinas (2.3%)
- Boliviana de Aviación (0.8%)
- Cubana de Aviación (0.1%)
- LASER (0.3%) and Estelar (0.5%), both operating the Madrid – Caracas route.
Additionally, Emirates and Air China, though not Latin American carriers, serve this market and together hold a 1.5% market share on their single routes to Spain.
Compared to 2023, all airlines grew in passenger volume, except for Cubana de Aviación, which saw a 3.40% decline.
Top Routes Between Spain and Latin America/Caribbean
In 2024, airlines connected Madrid, Barcelona, and Tenerife Norte with 36 destinations across Latin America and the Caribbean.
New Routes and Traffic Growth
- Madrid added a new destination: Santa Clara, Cuba, operated by Iberojet.
- Barcelona introduced a new route to Tegucigalpa/Palmerola, Honduras, also operated by Iberojet.
- Passenger traffic increased significantly on flights to Santiago de los Caballeros (Dominican Republic), Caracas (Venezuela), and Cochabamba (Bolivia), growing by 105.04%, 57.04%, and 54.8%, respectively, compared to 2023.
Routes Yet to Recover to Pre-Pandemic Levels
Despite strong overall growth, certain destinations have yet to fully recover to 2019 traffic levels, including:
- Cali, Colombia
- Rio de Janeiro/Galeão, Brazil
- Havana, Cuba
- Salvador de Bahia, Brazil
Routes from Barcelona
- The only Barcelona route that has not recovered is Lima, Peru, previously operated by LATAM.
- Aeroméxico has yet to announce its return to Barcelona, leaving Emirates as the sole airline operating the Mexico City – Barcelona route.
Tenerife Norte – Caracas
- Plus Ultra continues to operate weekly flights between Tenerife Norte and Caracas, carrying 21,259 passengers in 2024, a 16.7% increase compared to 2019.
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