Global air passenger traffic grows
Source: Bloomberg News |
February 1, 2013, Friday
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Print Edition
Print Edition
GLOBAL air passenger traffic rose 5.3 percent last year, boosted by the growth of Middle Eastern carriers and demand from Latin America and Africa, the International Air Transport Association said yesterday.
While growth slowed from 2011's 5.9 percent, it was above the 20-year average of 5 percent, IATA said in a statement. Capacity restraint helped lift seat occupancy to near-record levels, giving a profit margin of about 1 percent.
"We are entering 2013 with some guarded optimism," IATA Chief Executive Tony Tyler said. "Business confidence is up. The eurozone situation is more stable than it was a year ago and the US avoided the fiscal cliff."
Passenger traffic should grow by 4.5 percent in 2013, with cargo markets clawing back their 1.5 percent drop last year, IATA said. That may lift net income from an estimated US$6.7 billion in 2012 to US$8.4 billion, giving a 1.3 percent margin.
Demand in international markets rose 6 percent last year and domestic travel grew 4 percent, IATA said. Negative factors still weighing earnings include high fuel costs and weak economic growth seen at 2.3 percent, it said.
With overall capacity gaining by 3.9 percent in 2012, passenger load factors improved to an average of 79.1 percent. That compared with 45.2 percent in the freight market, which suffered a second straight annual drop after a "one-two punch" of declining trade and a shift to sea shipping, IATA said.
The number of people flying cross-border with Mid-East carriers such as Dubai-based Emirates and Qatar Airways gained 15.4 percent last year, accounting for almost one-third of the growth in international markets, IATA said.
Domestic traffic grew the most in China and Brazil, up 9.5 percent and 8.6 percent, respectively. The figure for the US was 0.8 percent, but that was twice the pace of capacity growth and yielded an 83.4 percent load factor ? the highest among major markets.
While growth slowed from 2011's 5.9 percent, it was above the 20-year average of 5 percent, IATA said in a statement. Capacity restraint helped lift seat occupancy to near-record levels, giving a profit margin of about 1 percent.
"We are entering 2013 with some guarded optimism," IATA Chief Executive Tony Tyler said. "Business confidence is up. The eurozone situation is more stable than it was a year ago and the US avoided the fiscal cliff."
Passenger traffic should grow by 4.5 percent in 2013, with cargo markets clawing back their 1.5 percent drop last year, IATA said. That may lift net income from an estimated US$6.7 billion in 2012 to US$8.4 billion, giving a 1.3 percent margin.
Demand in international markets rose 6 percent last year and domestic travel grew 4 percent, IATA said. Negative factors still weighing earnings include high fuel costs and weak economic growth seen at 2.3 percent, it said.
With overall capacity gaining by 3.9 percent in 2012, passenger load factors improved to an average of 79.1 percent. That compared with 45.2 percent in the freight market, which suffered a second straight annual drop after a "one-two punch" of declining trade and a shift to sea shipping, IATA said.
The number of people flying cross-border with Mid-East carriers such as Dubai-based Emirates and Qatar Airways gained 15.4 percent last year, accounting for almost one-third of the growth in international markets, IATA said.
Domestic traffic grew the most in China and Brazil, up 9.5 percent and 8.6 percent, respectively. The figure for the US was 0.8 percent, but that was twice the pace of capacity growth and yielded an 83.4 percent load factor ? the highest among major markets.
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