Passenger growth slows in Nov-08 as European airlines feel the impact of a slowing European economy
Passenger growth among European carriers slowed in Nov-08, reflecting the slowing European economy, with only Monarch Airlines, Ryanair and Norwegian Air Shuttle reporting passenger growth above 10% in the month, although SWISS grew just shy of that figure. Meanwhile, 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, also reporting passenger reductions, in the pursuit of maintaining/improving unit revenues and yields.
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