Airline industry saw more gains in May
June 24, 2010, 10:36 pm
Economic prospects are continuing to look up for the airline industry, judging from recently released data.
According to the Air Transport Association of America, passenger revenue was up 21 percent in May 2010 compared to the same period in 2009. This was said to be the fifth consecutive month of revenue growth.
"These results reflect encouraging signs of the nation's economic recovery from the very deep hole of a year ago," said ATA President James C. May.
The aviation industry was especially hard hit by a slowdown in business travel during the recession, as well as an increased tendency among consumers to spend less on vacations.
The organization went on to report that the number of passengers flying on U.S.-based airlines rose 2 percent in May, and that the average price to fly one mile was up 17 percent. International passenger revenue performed even better, rising by a 36 percent margin overall, with help from a 51 percent boost in the trans-Pacific markets.
U.S.-based airlines transport about 2 million people and 50,000 tons of cargo each day, notes the ATA, sustaining about 11 million jobs and using more than 6,000 aircraft in the process.
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