Printer Friendly

IATA reports improvement in air traffic but worrying bottom line.


The International Air Transport Association (IATA) has reported mixed news for the aviation industry with passenger traffic rising well but bottom line results being affected badly by soaring fuel costs.

International scheduled traffic for the nine months to September 2004 rose by 17.7% over the same period in 2003, with September 2003-September 2004 comparisons showing a 10.9% growth in passenger traffic. IATA's CEO Giovanni Bisignani said that the new figures showed that people were flying again and that with an average load factor of 74.6% over the last nine months the industry policy of meeting demands while cutting costs is paying off.

Despite the increase in passenger traffic however IATA said that the record price of fuel is having a damaging effect on the airlines' earnings and that total losses for the industry could equal USD3-4bn for 2004. Bisignani said that the new mantra for airlines was efficiency through shorter routes and better aircraft.

((Comments on this story may be sent to
COPYRIGHT 2004 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2004 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:International Air Transport Association
Publication:Airline Industry Information
Article Type:Brief Article
Date:Oct 28, 2004
Previous Article:Canada's WestJet Airlines reports fall in third quarter profits.
Next Article:Japan Airlines to raise domestic ticket prices.

Terms of use | Privacy policy | Copyright © 2022 Farlex, Inc. | Feedback | For webmasters |