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Air Traffic May Have Reached Low Point After 9.3% Plunge In May, Iata Says


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http://www.bloomberg.com/apps/news?pid=206...id=as1H.wKX_IW8

June 25 (Bloomberg) -- The slump in global airline travel may have reached a “floor†following a 9.3 percent decline in passenger traffic last month, the International Air Transport Association said today.

While demand weakened from a 3.1 percent decline recorded in April, the past two months have been stronger than the 11.1 percent drop reached in March, even after adjusting for distortions caused by the timing of Easter, IATA said today.

“We may have hit bottom, but we are a long way from recovery,†Chief Executive Officer Giovanni Bisignani said in a statement. “This crisis is the worst we have ever seen.â€

Carriers cut capacity by only 5 percent in May, so that average seat occupancy, or load factor, declined by 3.3 percentage points to 71.2 percent. The impact of airline debt and low asset prices will also delay any recovery, IATA said.

A 17.4 percent decline in international cargo traffic is a “relative improvement†compared with figures that have been in the minus 20 percent range since December and is “one of the first physical signs of the economic recovery,†it said.

The slide in passenger traffic was steepest in the Asia-Pacific region, with a 14 percent fall, according to the statement. Traffic dropped 11 percent in North America and 9.4 percent in Europe.

May was the first full month following the swine flu outbreak, with airlines in Mexico, where the pandemic began, suffering a traffic decline of almost 40 percent, IATA said. The disease probably wiped 1 percent off traffic globally.

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The slide in passenger traffic was steepest in the Asia-Pacific region, with a 14 percent fall

Interesting factoid that, considering that China has been stimulusing, and Japan has been pushing JAL to fly here, there and everywhere.

Also worth noting that oil is heading upwards again - these "bad" figures were all reported during a lull in the oil price.

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Interesting factoid that, considering that China has been stimulusing, and Japan has been pushing JAL to fly here, there and everywhere.

Also worth noting that oil is heading upwards again - these "bad" figures were all reported during a lull in the oil price.

But rising prices can only mean recovery and increased demand. :ph34r:

I wonder what the figures would be like if China hadn't been stimulating?

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  • 420 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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