| Air Freight, Passenger Traffic Growth Slows In 2005 |
International air freight grew a "disappointingly low" 3.2 percent, while passenger traffic expanded by 7.6 percent in 2005, the International Air Transport Association (IATA) said on Tuesday.
Air freight growth, a prime indicator of the health of world trade, was 15.8 percent in 2004, while international passenger traffic expanded by 15.3 percent that year, Geneva-based IATA said in a statement.
But passenger traffic growth was above the historical growth rate of 6 percent, the Geneva-based organization added.
Freight traffic growth was expected to pick up again in 2006 to reach 5-6 percent, with passenger traffic expanding at the same rate.
Despite the growth recorded in 2005, airlines lost USD$6 billion, the organization said. This loss is forecast to narrow to USD$4 billion in 2006.
"The industry will not see black ink until at least 2007," IATA Director-General Giovanni Bisignani said in a statement.
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| Posted on Tuesday, January 31 @ 06:02:32 PST by akzah |
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