Thu, Jul 07, 2011
But Association Warns Risks Remain
The International Air Transport Association (IATA) late last
week announced traffic results for May which showed a 6.8% increase
in passenger traffic over May 2010. This is 4% higher than the
beginning of the year. Freight traffic showed a drop of 4% against
the post-recession peak of the re-stocking cycle in May 2010.
However, recent months show a renewed upward trend with freight
volumes 2% higher than the start of the year.
“We saw positive developments for the air transport
volumes in May. International passenger load factors rebounded by
0.8 percentage points to 75.8%. Freight volumes improved by 1.2%
over April and passenger volumes were up by 1.8%. These will help
to alleviate some of the pressure on profits from continued high
fuel prices,” said Giovanni Bisignani, IATA’s Director
General and CEO.
“But there are risks associated with political unrest in the
Middle East and the European currency crisis. We still expect the
industry to make $4 billion this year. That is a pathetic 0.7%
margin and another shock could alter the industry’s fortunes
dramatically. It’s another tough year for a very fragile
industry,” said Bisignani.
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