Air travel slow down continues
06.10.08
The growth in air travel is continuing to slow down, according to new figures from the International Air Transport Association (IATA). Figures for August show a 1.3% increase compared with 1.9% in July, whilst average load factors fell to 79.2% for the month compared with 81% for the same weeks in 2007.
Four of the six IATA regions showed a growth in passenger traffic: Latin America (11.9%), North America (5.2%), Middle East (4.3%) and Europe (1.6%). But Africa (down 5.0%) and Asia Pacific (down 3.1%) both fell.
Giovanni Bisignani, IATA’s director general, said: ‘Passenger traffic grew by 5.4% in the first half of the year. That slowed to 1.9% in July and 1.3% in August. The contrast between the first half of the year and the last two months is stark. The slowdown has been so sudden that airlines can’t adjust capacity quickly enough.'
‘While the drop in the oil price is welcome relief on the cost side, fuel remains 30% higher than a year ago. And with traffic growth continuing to decline, the industry is still heading for a $5.2bn loss this year. The industry crisis is deepening and no region is immune. Urgent measures are needed. It’s a matter of survival.'
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