October saw continuing aviation industry recovery
25 November 2010
The aviation industry continued on its path of recovery in October with a 0.1 per cent year-on-year increase in passenger demand and a 14.4 per cent year-on-year increase for international freight.
The International Air Transport Association (IATA) said in a today release that the aviation industry path to growth is dependant on developments in the global economy.
''As we approach the end of 2010, growth is returning to a more normal pattern. Passenger demand is 5 per cent above pre-crisis levels of early 2008, while freight is 1 per cent above,'' said Giovanni Bisignani, IATA's director general and CEO.
''We are ending 2010 in much better shape than we were just 12 months ago. Airlines have turned losses into profit-albeit tiny.
Despite the economic uncertainties people continue to fly. Airlines appear to be managing capacity in the upturn with a good deal of prudence. And cost control continues to be a main theme for airlines everywhere,'' he added.
According to IATA, freight appears to be at a turning point. Since May, freight volumes have declined by 5 per cent, but October saw an end to the decline in freight with a slight uptick.