Singapore (XFN-ASIA) - International air passenger traffic for November grew 6.7 pct year-on-year while cargo traffic in the month increased by 3.1 pct, the International Air Transport Association (IATA) said. The average passenger load factor for the month was a strong 73.9 pct, it added. Year-to-date, passenger traffic grew 5.8 pct and cargo traffic by 4.8 pct.
"While year-to-date traffic growth was slower than the buoyant rates seen in 2004 and 2005, it is in line with the long-term industry average growth rate and has been a key factor behind the industry's improving bottom line," IATA director general and chief executive Giovanni Bisignani said in a statement.
"A positive revenue environment helped the industry reduce losses to just 0.5 bln usd last year," he added.
The Middle East remains the fastest growing region with an 18.3 pct increase in passenger traffic in November, although its expansion of capacity still outstripped demand for the second straight month, IATA said.
Going forward, IATA expects traffic growth to slow this year.
In order to achieve the targeted 2.5 bln usd industry profit this year, airlines have to manage capacity and increase efficiency, Bisignani added.
(1 usd = 1.53 sgd)
Want more analysis like this? CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find out more and take a free trial.