IATA: Pax traffic remains robust in 1H2019, with strong growth in Europe and Asia markets

IATA reported (30-Aug-2019) growth in global passenger traffic has slowed over the past year, but remained robust in 1H2019, a little below the long run average rate, at 4.8% year-on-year. Despite the weakness in economic growth amongst larger countries in the EU28, the 'Within Europe' air passenger market posted the highest RPK growth rate among key routes in 1H2019, thanks to stronger GDP growth in peripheral markets and price stimulation associated with LCC expansion. Demand in the 'Asia-Europe' and 'Within Asia' markets also performed strongly in the period, recording growth above the industry wide rate. The European market has likely benefitted from some substitution away from the US for Asian travellers, while the 'Within Asia' market has also seen demand supported by lower air fares. [more - original PR]