The International Air Transport Association (IATA) announced global traffic results for June showing a continued slowing of growth in the demand for air transport. This is in line with weakness in business and consumer confidence.
Year-on-year, demand for air travel in June expanded by 6.2%. Capacity grew by a much more cautious 4.5% leaving load factors at 81%. While this appears to be a healthy growth rate, the growth trend since early 2012 has seen a slowdown. This is illustrated by isolating the February through June trend which shows 2% annualized growth. That is a major slowdown from the 8% annualized growth rate experienced from mid-2011 through to January 2012.
June air freight volumes recorded a 0.8% increase compared to the previous year. This brings seasonally adjusted June demand about 2.5% above the low reached in the fourth quarter of 2011. The global picture masks strong growth for Middle East airlines (17.9%) and the improvement in North American air freight demand.
“The uncertainty that we see in the global economic situation is being reflected in air transport’s performance. Although there are some pockets of solid performance, it is difficult to detect a strong trend—positive or negative—at the global level. Passenger markets have been growing more slowly since the beginning of the year and freight markets gains have been mostly very weak. The net effect is a demand limbo as consumers and businesses hedge their spending while awaiting clarity on the European economic front,” said Tony Tyler, IATA’s Director General and CEO.en savoir plus