Passenger demand slows in 2012
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Global passenger air traffic increased 5.3% during 2012 compared to the previous year, new IATA figures have said.
The growth has dipped from 2011’s 5.9% growth with load factors for 2012 at near record levels of 79.1%. international travel saw a larger boost than domestic routes, although in Europe the growth was seen from airlines based outside of the Eurozone, particularly Turkey.
In Europe specifically, capacity increased 3.1% pushing the average load factor to 80.5% – the second highest behind US-based carriers.
“Passenger demand grew strongly in 2012 despite the economic bad news that dominated much of the last twelve months. This demonstrates just how integral global air travel is for today’s connected world,” said Tony Tyler, director general and CEO at IATA on the results.
“At the same time, near-record load factors illustrate the extreme care with which airlines manage capacity. Growth and high aircraft utilization combined to help airlines deliver an estimated US$6.7 billion profit in 2012 despite high fuel prices. But with a net profit margin of just 1.0% the industry is only just keeping its head above water,” he added.