Passenger demand rebounds and air freight shows modest growth in IATA’s latest monthly data shot
Latest data from the International Air Transport Association (IATA) paints a more positive performance for the industry in both the passenger and freight markets in Oct-2018. The impact of trade wars and economic headwinds remain troubling factors for the industry, similarly the political and economic impact of Brexit, but the recent easing of fuel prices has been a welcome development.
The global passenger traffic results for Oct-2018 show demand (measured in revenue passenger kilometres, or RPKs) rose +6.3% compared to the same month last year. This marked a rebound from +5.5% growth recorded in Sep-2018, which was an eight-month low. Capacity also grew +6.3% and load factor was flat at +81.1%, matching last year’s record for the month.
IATA’s director general, Alexandre de Juniac, describes the healthy monthly performance as “reassuring” following the slower demand growth in September—some of which IATA says was attributable to weather-related disruptions. However, while the rise is positive, the bigger picture is that traffic growth has still moderated compared to earlier in the year, reflecting what Mr de Juniac describes as “a more mixed economic backdrop and reduced demand stimulation from lower fares”.
READ MORE via The Blue Swan Daily: Passenger demand rebounds and air freight shows modest growth in IATA’s latest monthly data shot