Monday, 11 December, 2017

Global passenger traffic up 7.2pc in Oct: IATA

Global Air Freight Demand Slows Global Air Freight Demand Slows
Heather Davidson | 07 December, 2017, 02:01

"And the industry is ready to partner with governments to reinforce the foundations for global connectivity that are vital to modern life".

The growth in passenger numbers for SA (international and domestic) was expected to be between 3% and 4% a year for the next five years, according to projections by Airlines Association of Southern Africa. "More people than ever are traveling", said Alexandre de Juniac, IATA's director general and CEO.

Airlines and cargo companies also see opportunities from commercial drones, Celine Hourcade, head of cargo transformation at IATA said.

Airlines in North America generate almost half of airline revenue across the globe and the largest net profit with $15.6 billion this year.

Over the a year ago, IATA statistics showed that airlines in India recorded an increase in passenger traffic of just over twenty percent. "The region's carriers face challenges to their business models, and from low oil revenues, regional conflict, crowded air space, the impact of travel restrictions to the U.S., and competition the new "super connector" (Turkish Airlines)".

IATA said the biggest challenge to profitability in 2018 would be rising costs linked to the higher oil prices and other factors.

"Demand for air freight grew by 5.9% in October". "2018 is expected to be the fourth consecutive year of sustainable profits with a return on invested capital (9.4 per cent) exceeding the industry's average cost of capital (7.4 per cent)", IATA said in its "State of the Industry and Global Economic Outlook" report. "More routes are being opened".

In the Asia-Pacific region, including India, airlines are expected to register profits of $9 billion in 2018, which would be marginally higher than $ 8.3 billion projected for this year.

"It is still, however, a tough business, and we are being challenged on the cost front by rising fuel, labour and infrastructure expenses", he said. "To continue to deliver on our full potential, governments need to raise their game-implementing global standards on security, finding a reasonable level of taxation, delivering smarter regulation and building the cost-efficient infrastructure to accommodate growing demand", De Juniac added.

The net profit figure of $38.4 billion next year is an improvement on the $34.5 million expected for 2017, itself an increase from the previous forecast of $31.4 billion.

In terms of revenue per passenger kilometres, airlines are expected to see a 6% growth in 2018 compared with a 5.7% expected increase in available seat kilometres. Turning to environmental concerns, IATA, which said the inflation-adjusted cost of flying had halved for consumers since 1996, said aviation was committed to managing its carbon footprint with a near-term goal of capping emissions through carbon-neutral growth from 2020.

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