IATA: Recovery enters second, slower phase
The International Air Transport Association (IATA) announced international scheduled traffic statistics for July which showed continued strengthening of demand for both cargo and passenger traffic. Compared to July 2009, international scheduled freight traffic showed a 22.7 per cent improvement while passenger demand was up 9.2 per cent. These year-on-year comparisons for July were less than […]
September 1, 2010
These year-on-year comparisons for July were less than the June growth data of 26.6 and 11.6 per cent respectively. IATA said the apparent slowdown was entirely due to the fact that by July 2009 traffic was already starting to recover. After adjusting for seasonality, the improvement in demand was faster month-to-month in July than it was in June. The July global cargo demand was also 4 per cent higher than pre-crisis levels in early 2008.
Ã¢â‚¬Å“It is clear that the recovery has entered a slower phase,Ã¢â‚¬Â IATA said. During the second half of 2009, demand was rebounding at an annualised rate of 28 per cent for cargo and 12 per cent for passenger traffic. In the year to July, the annualised growth rates had dropped to 17 per cent for air freight and 8 per cent for passenger. Ã¢â‚¬Å“However, this is still considerably above the industryÃ¢â‚¬™s traditional 6 per cent growth trend,Ã¢â‚¬Â IATA added. The recovery is also a Ã¢â‚¬Å“two-speed recoveryÃ¢â‚¬Â with continuing weak growth by European carriers of 12.1 per cent in July, less than half the 25.3 per cent increase by Asia-Pacific carriers or the 27.1 per cent growth recorded by North American carriers.