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IATA expects earthquake/tsunami to affect international traffic in Mar-2011

17-Mar-2011 8:11 AM

IATA stated (16-Mar-2011) it is working with international and Japanese authorities and member airlines to ensure continued safe and efficient air links at this critical time. IATA separately noted that it is too soon to judge how the Japanese earthquake and tsunami will affect air travel, but added that "the market is large enough to have a materially adverse impact on the international total for that month". "Japan has been a relatively slow growth mature economy in the Asia Pacific region but premium travel is significant since Japan is still the third largest economy in the world (and was second largest until recently). Japanese markets represent 6-7% of the global total," IATA added. [more]