Thursday, November 25, 2010

Air traffic reinforces in October: industry group

The revival in international air traffic strengthened in October, with passengers up five percent beyond pre-economic crisis levels, industry group IATA said on Thursday.

"As we move toward the end of 2010, growth is returning to a more usual pattern," said Giovanni Bisignani, director general of the International Air Transport Association.

"Passenger demand is five percent above pre-crisis levels of early 2008, whereas freight is one percent above," he added.

He said that the outlook for the industry remained uncertain, although, "for the time being, the recovery appears to be strengthening."

In October, passenger demand was up 10.1 percent contrasted to a year ago, while freight traffic was up 14.4 percent.

Critically, freight volumes, which have been down since May, have turned optimistic, IATA noted.

"We are ending 2010 in much enhanced shape than we were just 12 months ago and airlines have turned losses into profit -- albeit tiny," Bisignani said.

Middle Eastern carriers posted the strongest enlargement for the month, with an 18 percent jump compared to October last year.

North American airlines recorded a 12.4 percent raise, while their European counterparts showed a 9.6 percent raise.

Asia-Pacific airlines' traffic was up 7.3 percent, whereas African airlines posted development of 13.3 percent.

Latin American airlines turned in the feeblest growth of 4.9 percent, although this was tilted by the bankruptcy of Mexicana, IATA said.

IATA in September more than tripled it’s predict for airline industry profits this year to 8.9 billion dollars as demand picked up.

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