Airline
Mideast Carriers Grow During Downturn
Middle East airlines passenger growth increased a combined 4.7 per cent in March according to a report by the Geneva based International Air Transport Association (IATA). The IATA reported that globally, passenger demand fell 11.1 per cent in March compared to the same period last year. Airlines reduced their seating capacity by 4.4 per cent.
Average worldwide load factors for March were 72.1 per cent, 5.4 per cent lower than the same period last year. IATA Inspector General Giovanni Bisignani explained airlines can’t adjust their capacity to match falling demand and load factors have fallen sharply from last year, hitting revenues hard. Regarding the outbreak of swine flu he said “The timing could not be worse given all the other economic problems airlines are facing.”
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