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    1. Commercial Aerospace

    Passenger demand in aviation market continued recovery in June, IATA officials say

    Aug. 6, 2010
    GENEVA, Switzerland, 6 Aug. 2010. International Air Transport Association (IATA) officials released international scheduled traffic statistics for June which showed continued strong demand growth as the industry recovers from the impact of the global financial crisis. Compared to June 2009, international passenger demand was up 11.9 percent while international scheduled freight traffic showed a 26.5 percent improvement, IATA officials say.
    Posted by John McHaleGENEVA, Switzerland, 6 Aug. 2010. International Air Transport Association (IATA) officials released international scheduled traffic statistics for June which showed continued strong demand growth as the industry recovers from the impact of the global financial crisis. Compared to June 2009, international passenger demand was up 11.9 percent while international scheduled freight traffic showed a 26.5 percent improvement, IATA officials sayCapacity increased only slightly above demand improvements during the month, keeping load factors in line with historical highs at 79.8 percent for passenger traffic and 53.8 percent for freight, according to the IATA aviation market statistics."The industry continues to recover faster than expected, but with sharp regional differences. Europe is recovering at half the speed of Asia with passenger growth of 7.8 percent compared to the 15.5 percent growth in Asia-Pacific," says Giovanni Bisignani, IATA's director general and chief executive officer. "We remain cautiously optimistic. A clear indication of the growing confidence is the over 400 aircraft orders announced at the Farnborough Air Show. This is good news that will bring environmental benefits through improved fuel efficiency. But it will also make the challenge of matching capacity to demand much more difficult."Outside of Europe, all regions reported double-digit growth in passenger traffic. "The question is how long can the industry maintain the double-digit momentum. Business confidence remains high and there is no indication that the recovery will stall any time soon. But, with government stimulus packages tailing off and restocking largely completed, we do expect some slowing over the months ahead," Bisignani says.After a dip in April due to the volcanic ash crisis centered in Europe, international passenger demand has returned to its upward growth trend. Passenger volumes are now 1-2 percent above the pre-recession peak in the first quarter of 2008, IATA officials say. Middle Eastern carriers continue to post the fastest growth -- up 18.0 percent compared to June 2009. This is based on a strong regional economy and the ability to attract long-haul traffic through the region's hubs. North American carriers posted growth of 10.8 percent, comparable to the 10.9 percent recorded for May 2010. Strong growth and the industry-leading load factor of 86.6 percent are contributing to strong second quarter financial results being announced by the region’s carriers.

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