A note of caution was added as Iata reported accelerating global passenger demand for March.

Demand grew by 9.5% – the fastest pace in a year – over the same month in 2017.

Capacity grew 6.4% in March and the load factor climbed 2.3 percentage points to 82.4%, setting a record for the month.

All regions except for the Middle East posted record load factors.

Iata director general and chief executive, Alexandre de Juniac, said: “Demand for air travel remains strong, supported by the comparatively healthy economic backdrop and business confidence levels.

“But rising cost inputs – particularly fuel prices – suggest that any demand boosts from lower fares will moderate going into the second quarter.”

He added: “The strong first quarter provides healthy momentum heading into the peak travel period in the Northern Hemisphere.

“Benign economic conditions are supporting – and being supported by – good demand for air travel.

“It’s a mutually-beneficial effect that smart governments recognize and encourage, by embracing affordable, quality aviation infrastructure and reasonable commercial regulation.

“But we need to deliver that message every day. The setback to modernizing air traffic management in the US, and a proposal to stop construction of the new airport in Mexico, are reminders of that fact.”