The International Air Transport Association released the Passenger Market Analysis for October 2014.
The Key Points:
Air travel volumes were up 5.7% in October year-on-year, slightly stronger than the September rise of 5.2%;
The fall in crude oil prices has partly come as a result of sluggish demand in key markets, including Europe and China;
But trends in air travel growth have remained positive, unaffected by emerging weakness in these regions;
International Revenue Passenger Kilometers (RPKs) on Asia Pacific carriers were up 5.5% in October, supported by growth in regional trade activity;
European airlines international RPKs were up 5.8% despite slowdown in the Eurozone economy, supported by strong growth is air travel on low cost carriers;
Domestic RPKs in Russia are showing signs of slowdown as a result of the Russia-Ukraine crisis with a rise of 6.1%;
Industry load factors slipped slightly in October as a result of solid expansion in capacity on international markets, particularly for Asia Pacific carriers;
On balance, the outlook for air travel remains positive, despite the presence of some downside risk;
Demand conditions are improving in the US and trade volumes have been on the increase, especially in Asia Pacific;
This should help offset some adverse developments, including the recent faltering of the Eurozone economic recovery.
Read the full IATA Economic Market Analysis:
Video, IATA Today
Video, passenger experience of the future – IATA
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