Friday, 2 March 2012

In Airlines Industry: Passenger Traffic Still Rising

From today’s IFALPA Daily News, the International Air Transport Association has announced its global traffic results for January, showing a 5.7 percent year-on-year rise in passenger demand, a slight increase on the 5.6 percent increase recorded the previous month. However, January saw an 8 percent decline in air freight compared to the same month in 2011. IATA explained that the Chinese New Year occurring in January, rather than in February as in 2011, “exaggerated the increase in passenger demand and the fall in air freight.”

“The year started with some hopeful news on business confidence. It appears that freight markets have stabilized, albeit at weak levels. And this is having a positive impact on business-related travel. However, airlines face two big risks: rising oil prices and Europe’s sovereign debt crisis. Both are hanging over the industry’s fortunes like the sword of Damocles,” said IATA’s director general and CEO Tony Tyler.

“Running an airline in today’s uncertain economic climate is a tough job. Some well-known names—Spanair and Malev—disappeared in January. At the same time, we know that demand for air travel will grow as the global economy recovers and requires even greater connectivity. The billions of dollars in commercial orders placed at the recent Singapore Airshow demonstrate that airlines are strategically investing to meet that demand with ever-more fuel efficient and environmentally sustainable aircraft,” he added.

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