Industry News

Courtney Agencies Ltd. provides a weekly industry news update to its clients.

Please click here to receive this update by email.

July 7, 2010

Air transport volumes were above pre-recession levels in May

The International Air Transport Association (IATA) announced international scheduled traffic statistics for May which showed an 11.7% increase in passenger traffic and a 34.3% jump in freight demand compared to May 2009.

"Demand rebounded strongly in May following the impact of the European volcanic ash fiasco in April. Passenger traffic is now 1% above pre-recession levels, while the freight market is 6% bigger," said Giovanni Bisignani, IATA's Director General and CEO.

Air freight growth surged in May to 34.3% (significantly up from the 26.0% recorded in April).

Latin American and African carriers recorded the fastest freight increases at 60.2% and 58.2% respectively. Asia-Pacific airlines, which represent the largest market share (45%) grew by 38.7% compared to the previous May on the strength of resurgent regional manufacturing.

North American and Middle East airlines posted a similar cargo growth of 35.3% and 38.6% respectively.

European carriers showed the weakest growth at 21.9%. It is anticipated that the 15% fall in the value of the Euro will stimulate outbound traffic with cheaper European exports.