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Demand for air travel decelerates in March
Aviation is crucial for development, says CEO of IATA
May 7, 2014 9:38 by kippreport
The demand for air travel declined considerably during March, according to an announcement by the International Air Transport Association (IATA) on Tuesday, May 6, although total revenue passenger kilometres increased by 3.1 per cent, when compared with March 2013.
While this represents a slowdown in comparison with February’s year-over-year traffic increase of 5.6 per cent, cumulative traffic growth for Q1 2014 was slightly higher than the overall growth achieved in 2013.
“After a number of very strong months, we are seeing a slowing of demand growth. The strong performance of advanced economies, nevertheless, is likely to support the continued growth of traffic in the coming months,” says Tony Tyler, the IATA’s director-general and CEO.
International passenger traffic rose by only 2.6 per cent in March, a significant slowdown when compared with the 5.4 per cent increase in February. The IATA also reports that most regions experienced a slowdown in year-on-year growth rates.
Middle Eastern carriers had the strongest year-on-year traffic growth in March, at 10.0 per cent, as they continue to benefit from the strength of regional economies and solid growth in business-related premium travel, according to the IATA, which claims: “Gulf nations are benefitting from the acceleration in non-oil sectors of their economies and positive developments in sectors, such as trade, transport and tourism.”
It also states that growth was especially strong in developing economies of Brazil, Japan and Russia, with all three recording double-digit increases in demand, when compared with 2013.
“Aviation is crucial for economic expansion and development. But it is up to governments to treat aviation as a partner, not as an easy target for overly excessive taxation and onerous regulation or to have its infrastructure needs neglected. When aviation is treated as an economic enabler, the industry is able to rise to its full potential as a key engine of growth and job creation,” says Tyler.
“Every day, 100,000 flights carry 8.6 million passengers and $17.5 billion worth of goods to their destinations. This activity not only helps to drive economies forward, it enriches the world by bringing people together in a global community,” he concludes.