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Mideast carriers post 18.8 per cent growth
The Middle East airlines have recorded an 18.8 per cent growth in
passenger traffic during the first 11 months of 2007.
This is way above the global average growth rate of 7.5 per cent,
said global aviation watchdog International Air Transport Association
(IATA) in its latest report.
“It’s a mixed picture,” said IATA’s Director-General
and Chief Executive Officer Giovanni Bisignani.
“The global economy ended 2007 on a surprisingly strong note.
The November surge in passenger demand has been critical in combating
high oil prices and helping airlines end 2007 with an industry profit
of $5.6 billion - the first since 2000. But, against a backdrop
of robust world trade, sluggish freight growth continued to be a
disappointment,” he said.
“Year-on-year international passenger demand rose 9.3 per cent
in November - the fastest growth rate recorded in 18 months,”
IATA said in a statement. “This is higher than the 7.7 per
cent growth recorded in October and the 7.5 per cent growth recorded
over the first 11 months of 2007.”
Average international passenger load factors were 75.4 per cent
in November, 1.1 percentage points higher than in November 2006.
Passenger demand results were strong across most regions, IATA said.
Asia Pacific (8.8 per cent), North America (7.6 per cent) and Europe
(7.6 per cent) all saw robust growth in November with no sign yet
of any weakening in demand as a result of economic uncertainty.
Latin American carriers recorded a 20.1 per cent increase reflecting
a strong recovery in traffic share following the impact of industry
restructuring during 2006.
Middle East carriers continued four years of double-digit growth
with an 18.3 per cent increase. African carriers’ growth slowed
to 5.8 per cent largely due to weaker demand in southern Africa
and strong competition in long-haul markets.
Freight growth continues to be sluggish, reflecting strong competition
with sea shipping and uncertainty over the economic outlook for
2008:
International freight demand growth slowed to 3.5 per cent in November,
down from 3.6 per cent in October.
Over the first 11 months of 2007 freight demand grew 3.9 per cent,
well below the 4.8 per cent recorded over the same period in 2006.
Middle East carriers continued four years of double-digit growth
with an 18.3 per cent increase.
“We ring in 2008 with a warning bell. Passenger demand growth
is expected to fall to 5.0 per cent. And the expected increase in
freight demand growth to 4.3 per cent will only help us recover
some of the ground lost against sea shipping. High oil prices and
the impact of the credit crunch will see industry profitability
slip to $5 billion in 2008.’’
“Since 2001, efficiency gains have been impressive: 64 per
cent improvement in labour productivity, 25 per cent reduction in
sales and marketing unit costs and a 16 per cent decrease in non-fuel
unit costs. The challenge for 2008 will be much more of the same
- efficiency everywhere,” said Bisignani. – TradeArabia
News Service
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