Geneva - The International Air Transport Association (IATA) announced global traffic results for January showing a 5.7% rise in passenger demand but an 8.0% decline in air freight compared to the same month in 2011. The occurrence of Chinese New Year in January (rather than in February as in 2011) exaggerated the increase in passenger demand and the fall in air freight. Stripping this out, the underlying trend was for stronger passenger growth, while stabilized weakness in cargo markets continues.
“The year started with some hopeful news on business confidence. It appears that freight markets have stabilized, albeit at weak levels. And this is having a positive impact on business-related travel. However, airlines face two big risks: rising oil prices and Europe’s sovereign debt crisis. Both are hanging over the industry’s fortunes like the sword of Damocles,” said IATA’s Director General and CEO Tony Tyler.
Total January passenger demand rose 5.7% compared to January 2011 a slight acceleration from the 5.6% year over year increase recorded for December 2011. With January passenger capacity up 4.2%, average load factor rose 1.1 percentage points to 76.6% compared to the same month a year ago.
Freight markets stood at 8% below January 2011 levels. The decline in air freight stabilized in the fourth quarter of 2011, at levels 4% below the 2008 pre-crisis peak. There was a 2.5% fall in global freight markets from December to January, but this is almost totally attributable to the impact of factory closures due to the Chinese New Year. Freight capacity contracted by 0.6% year over year, and freight load factor fell to 41% (from 44.3% in January 2011) as deliveries of new widebody passenger aircraft offset measures to reduce freight capacity.
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International Passenger Markets
International air travel rose 5.5% in January year over year, while capacity climbed 4.2%, resulting in a load factor of 76.6%, up from 75.7% in January 2011.
- Asia-Pacific airlines saw their traffic rise 6% in January compared to 2011. Capacity climbed 6.4% and load factor dipped slightly to 77.5%. Year on year traffic growth would have been softer were it not for the Chinese New Year boost.
- European carriers experienced a 5.3% gain in traffic versus January 2011. The persisting economic weakness of the region resulted in a considerable drop from the 9.5% growth recorded in December despite the attractiveness of the weak Euro to tourist traffic and export activity. The average load factor strengthened to 75.7% on a 2.7% rise in capacity year over year; however, the load factor is among the lowest of the regions.
- North American airlines had a 0.3% dip in passenger traffic, but capacity dropped 0.9%, pushing load factor up fractionally to 77.6%. Next to African carriers, the passenger demand was the weakest performance.
- Middle East airlines recorded double-digit traffic growth in January, posting a 14.5% increase. This was by far the largest rate of growth for any region and represents a return to the rates experienced in 2010. Capacity rose 10.6%. Load factor climbed 2.7 points to 78.5%, among the highest of the regions.
- Latin American carriers continued to enjoy robust passenger demand. Traffic rose 7.9% in January compared to the same month last year, while capacity increased 7.4%. At 79.9%, the region’s carriers had the strongest load factor.
- African airlines reported a 3.6% decline in demand and a 0.8% decline in capacity, with a load factor of 64.8%, the lowest load factor among the regions. Although sub-Saharan economies are showing strong economic growth, African airlines are finding it difficult to capitalize on the trend.
Global traffic results show an 8.6 percent improvement in passenger demand and a 5.2 percent rise in cargo demand