Business | Aviation
Mideast air passenger traffic growth eases
Middle Eastern carriers saw passenger traffic growth drop to 4.3 per cent in August following 5.3 per cent in July and well below the 10.6 per cent growth recorded during the first 6 months of the year.
- Staff Report
- Published: 23:41 October 3, 2008
Dubai: Middle Eastern carriers saw passenger traffic growth drop to 4.3 per cent in August following 5.3 per cent in July and well below the 10.6 per cent growth recorded during the first 6 months of the year, according to latest data published by the International Air Transport Association (IATA) for August.
In contrast, international passenger traffic carried by North American airlines accelerated from 4.2 per cent growth in July to 5.2 per cent in August, in Latin America from 8.1 per cent to 11.9 per cent and in Europe from 1.3 per cent to 1.6 per cent.
August is usually the second strongest month of the year, but the 79.2 per cent load factor achieved was 1.8 per cent points lower than last year although scheduled capacity is plan-ned to slow very sharply to the point where it barely grows by the end of the year.
Overall, international passenger demand growth slowed to 1.3 per cent, following a disappointing growth of 1.9 per cent in July. Passenger load factors fell to 79.2 per cent, a sharp drop-off from the 81 per cent recorded during the same period last year as capacity growth outpaced demand.
International freight traffic saw its third consecutive month of contraction with a 2.7 per cent decline following drops of 1.9 per cent in July and 0.8 per cent in June.
"Passenger traffic grew by 5.4 per cent in the first half of the year. That slowed to 1.9 per cent in July and 1.3 per cent in August. The contrast between the first half of the year and the last two months is stark," said Giovanni Bisignani, IATA's Director General and CEO.
"The slowdown has been so sudden that airlines can't adjust capacity quickly enough. While the drop in the oil price is welcome relief on the cost side, fuel remains 30 per cent higher than a year ago. With traffic growth continuing to decline, the industry is still heading for a $5.2 billion loss this year," he said.
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