- Total international: +7.5% year-on-year;
IATA: “Coincident and forward-looking indicators for business travel are looking gloomy. Premium travel typically grows in line with international trade. The growth rate for travel was distorted in May by last year’s volcanic ash event but the June and July growth rates were not distorted, yet they have diverged very significantly from trade growth, which has stopped growing. The second divergence is with business confidence, which has been a reasonably good leading indicator for premium travel growth by up to six months. Confidence has now fallen to levels consistent with the expansion in premium travel stalling during the fourth quarter of this year.” Source: Company statement, 19-Sep-2011.