6-Jul-2012 10:17 AM

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:

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.