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Global aviation industry showing signs of recovery

Nedumbassery: The global aviation industry is showing signs of recovery after going through one of its worst phases ever. Leading the way are carriers from Asia, particularly those from West Asia, says the International Air Transport Association (IATA).

The statistics on international scheduled traffic results for November 2009 released by the agency suggest a definite trend of increase in the international movement of passengers and freighters, though there are no real improvements over the peak levels. While the passenger demand was up by 2.1 per cent from that of the corresponding period last year, the demand for freight recorded a 9.5 per cent improvement.

Further, the passenger load factor returned to the pre-crisis levels of 75.4 per cent, though the freight load factors stood at 56.6 per cent.

However, IATA director Giovanni Bisignani expects no significant improvement in yields for the coming months despite the trend and holds the steps of conserving cash, controlling costs and carefully matching capacity to demand as the keys to survival. According to him, “demand continues to improve, but we still have a lot of ground to recover.”

IATA holds the view that though the passenger demand improved by 6.4 per cent from the low point reached in the first quarter of 2009, it still remains 6 per cent below the peak levels seen in early 2008. As also, the freight demand is 10 per cent below the peak levels despite the 20 per cent surge.

With the adjustments for seasonality, passenger traffic in November actually fell by 0.7 per cent, primarily from continued weakness in North America and Europe, though the freight demand grew by 4.7 per cent, largely on the strength of markets connected to Asia Pacific.

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