November’s international RPK growth data slowed to 7.7%, in line with IATA's forecast and the global economic slowdown. The outcome for 2004 is likely to be in excess of 14% growth. There is evidence of competitive pressures leading to a declining share of the market for European airlines.

Nov 2004 over

Nov 2003

RPK % Growth

ASK % Growth

PLF %

FTK % Growth

ATK % Growth

Africa

6.2

5.0

67.8

12.1

5.1

Asia Pacific

8.5

8.2

71.6

6.5

6.5

Europe

5.4

6.7

71.6

5.0

6.3

Middle East

16.4

14.4

67.5

18.0

16.8

N America

7.6

8.5

75.4

9.9

7.2

S America

6.1

6.0

73.6

8.3

6.1

Industry

7.7

8.1

71.8

7.4

7.3

YTD (Jan-Nov) 2004 over 2003

RPK % Growth

ASK % Growth

PLF %

FTK % Growth

ATK % Growth

Africa

10.2

8.9

67.5

16.2

9.7

Asia Pacific

22.0

16.3

72.3

14.4

15.6

Europe

10.4

8.4

75.3

10.6

8.9

Middle East

26.1

22.4

71.7

26.8

26.1

N America

15.4

11.0

79.0

11.5

9.1

S America

12.7

9.3

74.0

11.3

9.7

Industry

16.0

12.4

74.3

13.4

12.5

Nov 2004 over

Nov 2000

RPK % Growth

ASK % Growth

PLF pts

FTK % Growth

ATK % Growth

Africa

16.4

12.3

2.4

18.2

8.2

Asia Pacific

12.8

14.6

-1.2

24.1

20.6

Europe

3.6

-0.4

2.8

7.6

3.6

Middle East

53.8

48.7

2.2

58.6

61.8

N America

3.2

-4.4

5.6

5.2

2.0

S America

16.1

4.3

7.5

8.9

11.9

Industry

9.4

6.6

1.9

16.5

12.1

YTD (Jan-Nov) 2004 over 2000

RPK % Growth

ASK % Growth

PLF pts

FTK % Growth

ATK % Growth

Africa

17.6

13.8

2.2

13.4

4.8

Asia Pacific

11.7

14.9

-2.1

25.7

24.2

Europe

2.0

-0.2

2.6

7.3

3.0

Middle East

49.4

44.1

2.6

55.3

53.0

N America

3.8

-1.1

3.7

2.5

2.9

S America

12.4

7.6

3.2

12.8

17.6

Industry

8.2

7.1

0.8

16.4

12.6

1. Explanation of measurements:
· RPK: Revenue Passenger Kilometres measures actual passenger traffic.
· ASK: Available Seat Kilometres measures available passenger capacity.
· PLF: Passenger Load Factor as % of ASKs used.
· FTK: Freight Tonne Kilometres measures actual freight traffic.
· ATK: Available Tonne Kilometres measures available total capacity (combined passenger and cargo).
2. IATA statistics cover international scheduled air traffic, domestic traffic is not included.
3. All figures are provisional and represent total reporting at time of publication plus estimates for missing data.