Global Air Traffic Above Pre-Recession Levels
"The International Air Transport Association (IATA) announced today that international scheduled traffic results for August indicating year-on-year increases of a 6.4% for passenger and 19.6% for cargo (see chart above). August demand is down from the 9.5% increase recorded for passenger and 23.0% growth in cargo recorded in July. The August 2010 data is partially distorted by the comparison to August 2009, by which time markets were already expanding rapidly in a post-recession rebound." Other highlights include:
1. The August gain in freight traffic was the 11th consecutive monthly increase, and the 10th straight double-digit increase starting last November.
2. Passenger traffic has improved in 12 out of the last 13 months, with the only exception being the April decline because of the adverse travel effects of the European volcanic ash.
3. Global passenger traffic in August was 2% above pre-recession levels of early 2008.
4. Global international cargo traffic in August was 3% above the pre-recession levels of early 2008.