March Showed Mixed Signals in Air Traffic to Puerto Rico
March is typically one of the busiest months of the year for air passenger traffic at SJU. This year, Aerostar reported 638,000 passenger arrivals at the Luis Muñoz Marin International Airport in San Juan (SJU), bringing the total to 1.75 million passengers to date, but resulting in a 3% decrease compared to the same month last year, or approximately 20,000 fewer passengers. These results continue the downward trend observed this year, resulting in a YOY decline of 2.6%. Arrivals from North America (-2%) and the Caribbean (-19%) have decreased, while combined arrivals from Europe, South America, and Central America reached 95,000 (+19%).
The U.S. Travel Association has characterized U.S. domestic air travel in March as essentially flat year over year, with early signs of cooling momentum after modest gains earlier in the year. Travel indicators suggest it may be starting to cool, with TSA checkpoint data showing a decline in early April following the flat March results. Meanwhile, over 1.7 million seats are scheduled to SJU for April – June arrivals from the U.S. lower 48 (+1%), expanded service for Madrid (+3%), Medellin (4.5%), Panama City (11%), and Punta Cana (21%).
Despite broader headwinds in the air travel sector, Forward Keys reports that searches over the past month for travel to Puerto Rico in the year ahead are up 49% year over year. At the same time, local lodging indicators have remained on a positive trajectory through the first quarter of the year.