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Airlines returning to pre-crisis levels, says international group
Mar 30, 2010, 11:20 GMT
Geneva - A continued strengthening of demand in February was likely to help return the airline industry to pre-recession levels, the International Air Transport Association (IATA) said Tuesday.
The latest data from the industry group showed passenger demand was up 9.5 per cent last month, compared to February 2009, while cargo demand grew by 26.5 per cent. That continues a trend of the industry recovering from last winter, when it hit its weakest point.
The growth figures were, however, uneven, and Europe was having the weakest recovery.
'In two to three months, the industry should be back to pre- recession traffic levels,' IATA chief Giovanni Bisignani said in a statement.
Like other sectors recovering from the crisis, a return to pre crisis levels, IATA said, would not make up for the airline industry's lost growth of the past two years.
Europe reported the weakest growth for passenger demand, followed by only slightly better numbers from North America. The Middle East continue to report large traffic growth, as the region expanded.
In terms of cargo, Europe was again weak, but other regions performed better.
According to IATA's latest forecast, Europe was set post 2.2 billion dollars of losses this year.
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