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Jul 28, 2010

Airline industry recovers faster than expected – Iata

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Africa|Africa
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While airlines in all regions outside Europe had reported double-digit growth in passenger traffic in June, International Air Transport Association (Iata) director-general Giovanni Bisignani cautioned that this momentum could slow down in the months ahead.

Overall passenger demand increased by 11,9% year-on-year in June, while freight traffic had increased by 26,5% year-on-year in June.

Bisignani noted in a statement on Wednesday, that the airline industry had continued to recover faster than expected, but he questioned how long the passenger numbers could continue growing at double-digit levels.

“Business confidence remains high and there is no indication that the recovery will stall any time soon. But, with government stimulus packages tailing off and restocking largely completed, we do expect some slowing over the months ahead,” said Bisignani.

Meanwhile, Iata pointed out that Europe had seen the slowest growth rates out of all the regions, with passenger growth, at 7,8% in June, only about one-half of the 15,5% growth seen in the Asia Pacific region.

Nevertheless, passenger volumes in Europe were now between 1% and 2% higher than the peak reached at the start of 2008, before the recession.

European freight demand growth, at 15,3% in June, had also continued to lag other regions, such as the Asia-Pacific region, which recorded a 29,8% increase in demand; the Middle East, which saw a 39,6% increase and Latin America, with a 44,9% increase in demand.

Africa had recorded the fastest freight demand growth of 54% year-on-year in June, while passenger demand had increased by 21,3%, boosted to some extent by the 2010 FIFA World Cup.

Edited by: Mariaan Webb
Creamer Media Senior Researcher and Deputy Editor Online
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