Figures Show Demand Slowing

THE LATEST traffic results (for August) released by the International Air Transport Association (IATA) indicate that although passenger demand increased by 4.5% year-on-year it reveals a “significant slowing” compared to July’s growth of 6%.  Meanwhile, freight markets suffered a drop of 3.8% – more than double July’s 1.8% decline.
Tony Tyler, IATA’s Director General and CEO commented: “The industry has shifted gears downward.  The pace of growth in passenger markets has dipped and the freight business is now shrinking at a faster pace.  With business and consumer confidence continuing to slump globally there is not a lot of optimism for improved conditions any time soon.”