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ME airlines saw 23.6 percent passenger growth in January

Global passenger demand for air travel also increased in January this year, according to the International Air Transport Association.

March 2, 2010 4:45 by

Middle Eastern carriers saw 23.6 percent rise in passenger growth in January this year, according to a report released by the International Air Transport Association (IATA) on Tuesday. The region’s airlines “grew throughout the recession,” said the report.

The body also said that passenger demand across the world is improving; demand increased 6.4 percent in January this year as compared to the same period a year ago, it said. Compared to December 2009, and adjusting for seasonal variations, passenger demand grew by 0.5 percent, the IATA added.

“Airlines have lost 2-3 years of growth. Demand is moving in the right direction,” said Giovanni Bisignani, IATA’s director general and CEO in the report. “We can start to see the future with some cautious optimism, but better volumes do not necessarily mean better profits. Passenger yields are still 15 percent below peak. And we expect 2010 losses to be $5.6 billion,” he added.

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