International air passenger traffic in February rose 9.3% year on year but faltering business sentiment and stubborn fuel costs were cause for concern, the International Air Transport Association (Iata) said on Tuesday.
“The outlook is fragile. Improvements in business confidence slowed in February. This will limit the potential for business class travel growth and it implies that an uptick for cargo is not imminent,” Iata’s director general and CEO Tony Tyler said in a statement.
International freight rose 5.1% in February.
“At the same time, airlines trying to recoup rising fuel costs could risk reduced volumes on price-sensitive market segments. Weak economic conditions and rising fuel costs are a double-whammy that an industry anticipating a 0.5 percent margin can ill-afford,” Tyler said.
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