ACI reported (05-Sep-2013) growth rates at global airports have fallen to more moderate levels in Jul-2013 as compared to previous months. Overall global growth was +2.2%, led by Asia Pacific region with a 5.9% growth in passenger traffic. The world's top 20 busiest airports in terms of passenger traffic achieved growth of 1.6% while the two busiest airports experienced declines including Atlanta with a -3.2% and Beijing with a -2.7%. Air freight continued along its sluggish growth path with a slight increase of 0.6% in Jul-2013. As high as 70% of the world's top 20 air freight airports experienced declines. However, the first ranked Hong Kong and second ranked Memphis achieved growth of 1.9% and 6%, respectively. Results were mixed across regions, with some some regions such as Latin America-Caribbean (-3.9%) and Africa (-0.7%) recording overall declines, while the Middle East (+2.3%), Europe (+1.5%), North America (+0.7%) and Asia Pacific (+0.4%) posted modest growth. [more - original PR]
ACI: “The overall retreat in domestic demand across the euro area and other advanced economies is revealed in the data with weaker growth in air transport demand resulting in a drop from annualised growth of 5% in 2011 to below 3% in 2013. With a high level of interdependence across markets, this slowdown has obvious repercussions on air transport in emerging economies. Many of Asia’s biggest airports have already experienced a drop from the double digit growth rates in passenger traffic that had persisted over many months despite the downside risks. Similarly, the demand for shipments and freight by air remains in a fragile state in tandem with the outlook for a weak global economy," Rafael Echevarne, Economics Director, 05-Sep-2013.