ICAO forecasts global air traffic to rise 5.4% in 2012

ICAO forecasts (05-Jul-2012) global air traffic (PKPs) to rise 5.4% year-on-year during 2012, representing a slight slowdown from 2011. The lower-than-projected air transport numbers are due primarily to continuing high oil prices and reflect a similar impact on global Gross Domestic Product (GDP) during the same period. Details include:

• Passenger traffic (PKPs):
  • 2012: +5.4% year-on-year;
    • Europe: +4.2%;
    • Africa: +5.5%;
    • Middle East: +9.5%;
    • Asia Pacific: +8.0%;
    • North America: +2.3%;
    • Latin America and Caribbean: +7.0%;
  • 2013: +6.0%;
    • Europe: +4.4%;
    • Africa: +6.2%;
    • Middle East: +10.2%;
    • Asia Pacific: +8.6%;
    • North America: +3.1%;
    • Latin America and Caribbean: +7.7%;
  • 2014: +6.4%;
    • Europe: +4.8%;
    • Africa: +6.0%;
    • Middle East: +11.0%;
    • Asia Pacific: +8.8%;
    • North America: +3.5%;
    • Latin America and Caribbean: +8.2%. [more - original PR]

ICAO: "According to IHS/Global Insight, a major economic forecasting organization, world GDP at Purchasing Power Parity (PPP)* in real terms will grow by just 3.4% during 2012, down from 3.7% in 2011. In terms of regional impacts, the European Union (EU) is expected to be hardest hit during 2012 as it continues to deal with sovereign debt and austerity burdens. The Asia/Pacific, meanwhile, is expected to perform strongly in 2012 with regional GDP at PPP growing over 5.8% and air traffic growth climbing by 8%. Looking further forward, current expectations see a 4.3% annual GDP at PPP growth rate for the world economy over 2013-2014." Source: Company statement, 05-Jul-2012.