ACI: Jun-2014 passenger traffic on par with growth trend

ACI reported (11-Aug-2014) global passenger traffic continued along the growth path as the number of passengers increased by 4.5% year-on-year in Jun-2014, which is on par with the average 12 month growth trend of 4.7%. International traffic continued to maintain momentum by contributing to the upward surge in passenger traffic with an increase of 5%. Domestic passenger markets moved up by 4.2% for the month. Most regions posted strong gains in passenger traffic, with the exception of Africa, which was almost flat. Europe posted the highest growth rate (6.1%) since passenger numbers were significantly depressed in 2013 due to the Euro area crisis. The top 30 busiest airports in Europe all posted gains in passenger traffic. On the other hand, Asia-Pacific experienced more subdued growth with mixed results across many airports in the region. The Middle East was also well below the 12-month growth trend with growth of only 4.4%, which is mainly attributable to the closure of a runway at Dubai Airport, which was being refurbished over the summer months. Air freight markets achieved moderate growth of 2.2% due to the recovery in world trade coupled with an improvement in domestic demand in advanced economies. [more - original PR]

ACI: "From a long-run historical perspective, the air freight industry remains relatively sluggish since it has barely surpassed the volumes that existed in the pre-Great Recession era. The weakness in the air freight market over the last decade is largely attributed to a loss in market share to other competing modes of freight shipment such as ocean freight. While the air freight market appears to have stabilised over the last quarter of 2013 and into 2014 in conjunction with the ongoing recovery in the global economy, the new paradigm shifts toward cheaper modes of delivery means that suppliers of air freight capacity need to rethink their business model in order to remain competitive. With regard to passenger traffic, it seems to be business as usual as we enter into the busiest months of the year for air travel," Rafael Echevarne, Economics Director. Source: Company statement, 11-Aug-2014.