Worldwide freight movements down 9.6% in August

IATA chief Giovanni Bisignani was typically frank about the state of the global aviation industry.

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The International Air Transport Association (IATA) has announced another year on year fall in air traffic for August.

Compared to August 2008, passenger demand was down 1.1% globally, (an improvement compared to the 2.9% decline in July), and freight demand fell by 9.6% (also an improvement compared to the 11.3% drop in July).

Although the figures represent some grounds for optimism, freight movement is still 16% below April 2008 levels when the fall in demand began.

For the Middle East, however, the picture is far more positive, as freight movement was up 3.0% in August.

It was a similar picture on the passenger side. Globally, traffic levels remain 5% below May 2008 when the fall in demand began.

Middle Eastern carriers, however, reported year-on-year passenger growth of 10.8% in August.

Giovanni Bisignani, IATA’s director general and CEO, was typically forthright about the outlook for the aviation industry.

“Demand continues to improve, but profitability remains ever distant,” he said. “Fares have stabilised, but at profitless levels.

“Meanwhile cost pressures are mounting from reduced aircraft utilisation and rising oil prices. The industry is not out of the woods yet.”

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