International traffic down 1.3% – IATA

Traffic figures from IATA reveal a 1.3% decline for October compared with a year earlier, the second consecutive month of global falls.

Africa saw the sharpest drop with traffic down 12.9%, while Asia-Pacific airlines saw a 6.1% decline. Despite all regions experiencing losses they were lower than in September.

Cargo shipments were down 7.9% overall with Latin American carriers seeing the largest drop of 11.4%.

“The gloom continues and the situation of the industry remains critical. While the drop in oil prices is welcome relief, recession is now the biggest threat to airline profitability. The slight slowing in the decline of passenger traffic is likely only temporary. The deepening slump in cargo markets is a clear indication that the worst is yet to come,” said Giovanni Bisignani, IATA’s director general and CEO.

Source: Routes News