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IATA Reports Improved Demand for International Air Travel
Published on: March 3, 2010
The International Air Transport Association (IATA) said demand for international scheduled air traffic continues to improve. Compared to a year ago, January 2010 passenger demand was up 6.4 percent. Against this improving demand, a 1.2 percent increase in passenger capacity in January pushed load factors to 75.9 percent (up from the 72.2 percent recorded for January 2009). The large increases in year-on-year comparisons reflect a steady improvement from the precipitous fall in demand that characterized the early part of 2009 rather than a dramatic improvement in January. Compared to December 2009, and adjusting for seasonal variations, passenger demand grew by 0.5 percent, while air freight volumes increased by 3 percent.
IATA also noted that there are large geographical differences in the demand picture. The strongest upturns have been seen in markets where economic recovery from the recession has been strongest, namely Asia, Latin America and the Middle East. Compared to the low point in the cycle (February 2009) international passenger traffic is up 8.6 percent. But the market has not yet recovered from the losses of 2008 and early 2009. Demand must improve by a further 2 percent to return to the peak levels of early 2008.
Carriers in North America and Europe saw demand increase by 2.1 percent and 3.1 percent, respectively. Although both regions have gained 6 percent from the early 2009 lows, they remain 4 to 6 percent below the early 2008 peak levels. IATA said this reflects the jobless recovery from the recession in which consumers are focused on paying down debt. Middle Eastern carriers grew throughout the recession. Growth accelerated to 23.6 percent in January. Latin American carriers saw demand increase by 11 percent in January on the back of a strong regional economy. For more information, visit www.iata.org.
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