Airlines continue to grow
August 20, 2010, 05:27 pm
Economic recovery is treating the airline industry quite well. The Air Transport Association of America announced that the industry is continuing to see growth. In fact, for seven months in a row, passenger revenue has increased.
To make things even better, passenger revenue numbers for July of this year are 20 percent higher than they were during the same month last year.
The cost to travel rose 17 percent, making up for the slight 1 percent decline in passenger travel. Data from the Bureau of Transportation Statistics shows that air fare prices during the first quarter of the year reached the second highest level since 2001, reaching $328.
ATA President and CEO James May says that while the numbers are encouraging, it's important to remember that the economy is still in a fragile state.
"Demand for air travel remains well above last year's depressed levels, but the industry is mindful of cautionary notes about the health of the overall economy," said May.
The airline industry is responsible for employing thousands of people and helps fuel the economy, experts say.
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