Abstract This article analyzes the behavior of the demand of domestic and international air passengers in a context of liberalized air transport market and with a total deregulation of airfares (using as case study the Colombian air transport market), and where it is also contemplated the influence, on this demand, of several factors of diverse origin (economic, market / competition and geographic). And due to the complexity of the air transport system, the use of System Dynamics is considered appropriate as an analysis tool. The main results indicate a convergence (in the study period) to a stabilization status of the load factor, which suggests that the air operators were able to better understand the behavior of the demand and thereby better adjust their supply.