December air traffic tumbles as demand slumps – IATA
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The International Air Transport Association (IATA) has released international scheduled traffic results for both December and the full-year 2008.
For the full-year 2008, international passenger traffic showed a modest increase of 1.6%, with load factors averaging 75.9%. The results for December pulled down the overall figures, with passenger traffic dropping 4.6% year-on-year, and load factor standing at 73.8%.
Bolstered by year-end advance-booked leisure travel, the 4.6% decline in December passenger demand was less dramatic than the 22.6% fall in cargo. A 1.5% cutback in supply could not keep pace with falling demand, resulting in a 2.4% decline in the December load factor.
“Airlines are struggling to match capacity with fast-falling demand. Until this comes into balance, even the sharp fall in fuel prices cannot save the industry from drowning in red ink,” warned IATA’s Director General and CEO, Giovanni Bisignani.
Asia Pacific carriers saw the sharpest decline in December international traffic at 9.7%. They also registered the sharpest reduction in capacity, but at 5.6%, this is lagging behind the drop in demand. Load factors sank to 72.6%. Carriers in the Middle East showed a 3.9% increase in demand in December, far below the 10% capacity increase. The region’s carriers ended five years of double-digit growth with full-year demand growing by 7.0% (compared to 18.1% recorded for 2007).
“2009 is shaping up to be one of the toughest years ever for international aviation. Keep your seatbelts fastened and prepare for a bumpy ride and a hard landing,” said Bisignani.
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