Air passenger growth slows to 5 year low
06.08.08
A report by the International Air Transport Association (IATA) has revealed that global airline passenger growth slowed to 3.8% in June, the slowest growth rate in five years. The volume of freight traffic fell in June, down 0.8%, the first decline since May 2005, due to falling confidence from manufacturers.
The airlines body recently warned that the aviation industry faced a 'grim' outlook and passenger numbers would be affected by surging fuel costs and the deteriorating global economic situation. It added that the airline industry could see losses of £3 billion this year.
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