Passenger demand still improving, turning point for freight? IATA

IATA has published its results for October which reveal a 10.1 per cent increase in international passenger demand and a 14.4 per cent growth in international freight traffic, compared to the same month last year.

The increase in passenger demand is slightly below the 10.7 per cent growth reported for September, but both months are an improvement over August’s 6.4 per cent.

However, freight “appears to be at a turning point” said IATA. Volumes have been declining five per cent per month since May but it remains to be seen whether the increase is a stabilisation in volumes or it is the start of an upward trend.

Giovanni Bisignani, IATA’s Director General and CEO commented “As we approach the end of 2010, growth is returning to a more normal pattern. Passenger demand is five per cent above pre-crisis levels of early 2008, while freight is one per cent above. Where we go from here is dependant on developments in the global economy. The US is spending more to boost its economy. Asia outside of Japan is barrelling forward with high-speed growth. And Europe is tightening its belt as its currency crisis continues. The picture going forward is anything but clear, but for the time being, the recovery seems to be strengthening”.