Airlines experiencing more demand
June 30, 2010, 09:40 pm
One of the aviation industry's leading organizations is reporting that passenger statistics are starting to return to pre-recession levels, marking a significant financial milestone.
According to the International Air Transport Association, passenger traffic was up 11.7 percent on a year-over-year basis in May, while freight demand was up 34.3 percent.
"Demand rebounded strongly in May following the impact of the European volcanic ash fiasco in April. Passenger traffic is now 1 percent above pre-recession levels, while the freight market is 6 percent bigger," said Giovanni Bisignani, IATA's Director General and CEO.
The organization also noted that this is now the sixth consecutive month with seasonally adjusted load factors near 79 percent. Airlines are also now expected to post a $2.5 billion profit in 2010.
On a regional basis, European airlines were said to have the weakest demand growth for passengers, although this figure was still up 8.3 percent on a year-over-year basis. Elsewhere, demand among passengers was up 13.2 percent for Asia-Pacific carriers. For North American carriers, demand was up 10.9 percent, while Latin American carriers saw the strongest jump in demand at 23.6 percent.
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