Full year 2002 results show a slight net increase in international passenger traffic on IATA carriers over 2001 of 0.06%. However passenger capacity fell by 4.3%, resulting in a 3.3% improvement in the overall passenger load factor for the year. Freight traffic shows an increase of 6.5% for the year. Overall capacity (passenger and freight combined) fell by 2.5%.
With regard to regional results, Giovanni Bisignani, IATA's CEO and Director General, highlighted the continuing traffic growth in Asia Pacific. "Asia Pacific carriers ended the year with encouraging traffic figures compared with other regions. Passenger traffic grew by 5.8% and freight traffic by 13.3% in contrast to the results seen for North American and European carriers."
Comparisons with 2000
Since 2001 was an exceptionally bad year, a better idea of overall traffic and capacity trends is seen from a comparison of 2002 with 2000 on the following graph. Current passenger traffic levels are averaging a 4.0% decline and freight a 2.0% decline, on two years ago.
"This comparison to our last full year of normal operations shows that we have started the recovery process. Now it is time for traffic growth to be matched with revenue growth and a return to profitability. If the political climate remains stable and military conflict is avoided, a 6.4% increase in total passenger traffic could be realised in 2003." said Mr. Bisignani.