IATA numbers encourage otpimism

IATA has released figures showing that in January international scheduled air traffic demand continued to improve.

Passenger demand for the month was up 6.4 per cent year on year and load factor climbed to 75.9 per cent, compared with 72.2 per cent for January 2009.

International cargo demand showed a 28.3 per cent improvement, pushing load factor to 49.6 per cent, well up from the 40.1 per cent in January 2009.

IATA says that, "The large increases in year-on-year comparisons reflect a steady improvement from the precipitous fall in demand that characterized the early part of 2009 rather than a dramatic improvement in January. Compared to December 2009, and adjusting for seasonal variations, passenger demand grew by 0.5% while air freight volumes increased by 3.0%.

"There are large geographical differences in the improvements. The strongest upturns have been seen in markets where economic recovery from the recession has been strongest — Asia, Latin America and the Middle East...

"Asia-Pacific carriers experienced a 6.5% increase in demand compared to the previous year. Of the improvement in demand seen since the early 2009 low point, 31% has been realized by carriers in the region which is leading the global economic recovery...

"Middle Eastern carriers grew throughout the recession. Growth accelerated to 23.6% in January...

"Compared to the low point in the cycle (December 2008 - January 2009), international freight traffic has regained about 28%. This is still 3-4% below the early 2008 peak level.

"The sharp improvement in air freight, which accelerated to 3.0% in January compared to December, is being driven by businesses re-stocking depleted inventories. This part of the inventory cycle will not last much longer. Durable air freight growth will require consumers to start buying again and businesses to return to making investments. While these improvements are beginning to be seen in Asia, Europe and North America lag behind."

Optimism like this from the Bisignani camp is encouraging indeed.