Air cargo traffic has plummeted by almost a quarter as a result of the global recession, according to the latest figures released by the aviation International Air Transport Association. Traffic fell 22.6 percent in December compared with the same month in 2007. This comes on the back of a 13.5 percent drop decrease in November.
Half of the world’s major airlines will experience a slump in profits in 2009 due to falling demand, according to the latest survey from the International Air Transport Association. The report represents a dramatic loss in optimism since its previous survey, released three months ago, when 75% of carriers anticipated a rise in consumer demand in 2009.
International Air Transport Association Director General and CEO Giovanni Bisignani has issued a statement backing the U.K. Government’s decision to add a third runway at London Heathrow.
The Air Transport Association of America has announced that United Airlines Chairman, President and CEO Glenn F. Tilton has been elected chairman of the ATA Board of Directors. Tilton, who succeeds former Northwest Airlines Chairman and CEO Douglas M. Steenland in this role, will serve a two-year term.
The International Air Transport Association has announced international air traffic for October showing a second consecutive month of global decline. International passenger traffic declined by 1.3% compared to the same month in the previous year - a smaller decline than the 2.9% drop experienced in September.
The International Air Transport Association (IATA) has announced a revised industry financial forecast that would see the global airline industry post losses of US$5.2 billion in 2008 based on an average crude oil price of US$113 per barrel (US$140 for jet fuel).
The International Air Transport Association has revised its industry financial forecast for 2008 significantly downwards to a loss of US$2.3 billion.
Ahead of the IATA deadline in June, Lufthansa has revealed that 98 per cent of all tickets issued by the airline are already generated electronically.
The world’s airlines are struggling to meet the impending deadline for the global switch to “paperless” tickets, a leading travel agency group has warned.
The International Air Transport Association (IATA) launched the IATA Travel Centre at www.iatatravelcentre.com.
The International Air Transport Association (IATA) says that the aviation industry has registered record traffic volumes and load factors in July.
“Failure to liberalise the air transport sector is delaying the recovery of a sick industry” said Giovanni Bisignani, Director General and CEO of International Air Transport Association (IATA).