(Geneva) "February traffic growth gave mixed signals. A slowing of global economic activity saw passenger traffic fall to 6.6% year-on-year from the 7.9% reported in January. The good news is that the resilience of air travel was once again demonstrated in the aftermath of the Asian Tsunami. Growth for Asian carriers returned to normal levels, partially boosted by Chinese New Year travel," said Giovanni Bisignani, Director General and CEO of the International Air Transport Association (IATA).
February passenger traffic growth of 6.6% brought year-to-date passenger growth to 7.3%. All regions reported positive growth with the Middle East and Latin America being the strongest performers. Asia Pacific largely recovered from the impacts of Tsunami, posting a 7.9% year-on-year increase for February.
Cargo slumped by 0.9% in February, although year-to-date figures maintained positive growth of 6.5%. Weaker global economic activity and a slump in Chinese imports during the Chinese New Year period are largely to blame for this.
Year-to-date load factors remained high at 72.7%. Latin American and North America led with average load factors at 74.7% and 74.8% respectively for the January-February period.
The cost of fuel continued to rise in February, mitigating the positive impacts of both growth and careful capacity management. "If the average price of oil settles at US$43 per barrel (Brent) for the year the total cost of fuel to the industry will exceed US$73 billion. Clearly 2005 will be another year of industry losses, despite aggressive airline cost cutting," said Bisignani.
"Consolidation in European aviation last week was a small but important step in the right direction for the industry. But we need governments that are not afraid of taking big steps that will fundamentally change the structure of the industry," said Bisignani.
"The return of a discussion on the North Atlantic Open Aviation Area to the industry's agenda is a golden opportunity for the US and Europe to lead change with liberalisation. A modern set of rules that gives airlines the freedom to do business like real businesses—without the constraints of archaic bilateral rules and ownership restrictions—has never been more important to the health of our industry," said Bisignani.
|Feb 2005 over Feb 2004||RPK Growth||ASK Growth||PLF||FTK Growth||ATK Growth|
|Jan-Feb 2005 over Jan-Feb 2004||YTD RPK Growth||YTD ASK Growth||YTD PLF||YTD FTK Growth||YTD ATK Growth|
Notes for Editors:
1. Two statistical anomalies impacted February results:
- February 2005 had 28 days, whereas February 2004 was a leap year having 29 days.
- Chinese New Year fell within February in 2005, whereas it was in January of 2004.
2. The fuel bill for 2004 was US$ 63 billion with an average price of US$38 per barrel (Brent).
3. IATA (International Air Transport Association) represents over 270 airlines comprising 95% of international scheduled air traffic.
4. Explanation of measurements:
- RPK: Revenue Passenger Kilometres measures actual passenger traffic
- ASK: Available Seat Kilometres measures available passenger capacity
- PLF: Passenger Load Factor is % of ASKs used. In comparison of 2004 to 2003, PLF indicates point differential between the periods compared.
- FTK: Freight Tonne Kilometres measures actual freight traffic
- ATK: Available Tonne Kilometres measures available total capacity (combined passenger and cargo)
5. IATA statistics cover international scheduled air traffic; domestic traffic is not included.
6. All figures are provisional and represent total reporting at time of publication plus estimates for missing data.
7. Due to uncertainties in the adoption of the new ICAO statistical definitions by reporting carriers, care should be taken when making year comparisons.