Passenger demand weak in Dec-08 as European airlines feel the impact of a slowing economy

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Passenger demand among European carriers weakened further in Dec-08, reflecting the slowing European economy, with only Norwegian Air Shuttle and Ryanair reporting passenger growth rates above 10%. The major European network carriers reported year-on-year passenger declines, with struggling Eastern European LCC, SkyEurope, and Germany’s second largest carrier, Air Berlin, reporting passenger reductions, in the pursuit of maintaining/improving unit revenues and yields.

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