The year 2023 marked a period of significant recovery at the international level after the health crisis triggered by COVID-19. This trend became evident in the market between Spain and Latin America/Caribbean, which showed remarkable growth in several routes.
Spain stood out as one of the fastest-growing markets internationally, even surpassing the record reached in 2019. According to data provided by Turespaña, the country received a total of 95,032,138 passengers on international flights in 2023, representing an increase of 0.9% compared to pre-pandemic levels.
The flow of travelers between Spain and Latin America/Caribbean experienced steady growth before the pandemic, which was interrupted by its effects. However, during 2023, this growth trend resumed with prospects of continuing to increase the flow of passengers during 2024.
According to data from AENA Spain, 11.5% of the flow of travelers to Spain comes from Latin America and the Caribbean, while 56.5% comes from the European Union and 32% from the rest of the world (United States, Canada, Middle East, Asia/Pacific, and Africa).
The airlines with the most passengers between Spain and Latin America
In 2023, 10,985,149 passengers were mobilized between Spain and Latin America/Caribbean, of which 93% had as departure and arrival the Adolfo Suarez Madrid Barajas International Airport (MAD), and the rest to the Josep Tarradellas International Airport of Barcelona (BCN) and Tenerife/North (TFN).
Spanish Airlines
Spanish airlines dominate the market, with a share of 73.9%. Iberia leads with 36.8%, followed by Air Europa with 23.7%. World2Fly closes the podium with 4.4%. On the other hand, the remaining, Plus Ultra, Iberojet, and LEVEL are responsible for 4.3%, 2.4%, and 2.3% respectively.
During 2023, all Spanish airlines exceeded pre-pandemic levels, with the exception of Iberia, which was at 2.2%. The most notable growth was achieved by Plus Ultra, with a growth of 95%.
See Also: Iberia increases its flights to Argentina, Brazil, Chile, Ecuador, and Puerto Rico in 2024
Latin American Airlines
On the other side of the Atlantic, seven Latin airlines share a market share of 24.7%, individually far from the Spanish companies Iberia and Air Europa. The leading company is Avianca, with 8.7% of the market, followed by LATAM and Aeroméxico with 7.3% and 5.4% respectively.
The three mentioned companies have the particularity of operating more than 3 routes from and to Spain, allowing between 900,000 and 600,000 passengers to be moved per year.
See Also: Avianca begins flights between San Salvador and Madrid
Further behind are Aerolíneas Argentinas (2.1%), Boliviana de Aviación (0.7%), Cubana de Aviación (0.1%), and Estelar (0.04%), all operating a single route to Spain. The only airline from another region is Emirates, which captured 1.2% of the market on its only route.
Compared to 2019, Aeromexico and Avianca were the two regional companies that experienced real growth, with 58% and 12% respectively. This is because they were the only ones that added routes and frequencies. The rest were still in the process of recovery.
Main routes between Spain and Latin America and the Caribbean
During 2023, airlines connected Madrid and Barcelona with 36 destinations in Latin America and the Caribbean.
After the pandemic, six new routes were added (all with Madrid on the Spanish side):
- Guadalajara (GDL) and Monterrey (MTY) in Mexico, by Aeromexico in December 2021.
- San José del Cabo (SJD) in Mexico, inaugurated by Iberojet in July 2022.
- Tegucigalpa (XPL) in Honduras, inaugurated by Iberojet in December 2022.
- Cartagena (CTG) in Colombia, inaugurated by Plus Ultra in July 2022.
- Santiago de los Caballeros (STI) in the Dominican Republic, inaugurated by Plus Ultra in December 2022 and later followed by World2Fly in June 2023.
Also, Barcelona added new destinations, focusing on the leisure and beach market, with flights to Punta Cana and Cancún operated by Iberojet; and briefly Havana by Cubana de Aviación in 2023.
In terms of other markets, Santiago de Cuba, San Pedro Sula (Honduras), and Córdoba (Argentina) stood out with real growth of 265%, 115%, and 110% respectively compared to 2019.
Among the cities that decreased from Madrid are Cali (-42.6%), Rio de Janeiro (-39.3%), Samaná (-36.5%), São Paulo (-23.6%), Buenos Aires (-20.1%), Salvador de Bahía (-19.2%), Santiago (-15%), Guatemala City (-7.7%), Havana (-7.3%), Quito (-6.6%), and Havana (-1.7%).
Routes from and to Madrid:
Routes from and to Barcelona:
The only destination that Barcelona has not recovered was Lima, Peru, by LATAM. In contrast, Aeromexico has not announced its return to El Prat.
Lastly, Plus Ultra connects Tenerife/North, in the Canary Islands, with Caracas weekly. In 2023, it moved 18,315 passengers, representing an increase of 7.9% compared to 2019.
20 years is nothing
In September, we had published on our social networks a graphic summarizing how the market between Latin America and the Caribbean and Spain varied over 20 years.
From 30 routes in September 2003, they went to operating 46 the same month in 2023, more than doubling the offer of flights and tripling the offer of seats.
There were also significant changes in the type of aircraft used and in the main routes.
