Travellers taking to the skies again
Most airline bosses are predicting an upswing in passenger traffic throughout 2010, according to the latest report from the International Air Transport Association (IATA).
The industry body, which represents more than 90 per cent of scheduled air traffic, said that a “sharp improvement” in airline business was widely expected by its members.
Any recovery would bring to an end the most difficult chapter in modern aviation history, with the IATA recently calling 2009 the worst year for the industry since World War II.
Issuing its latest report, the industry body said that for the first time since January 2008 a majority of airlines have reported improving profitability against the previous quarter.
The upswing reflects growing confidence among air passengers, who deserted the sector in their droves last year as the recession gathered pace. However, the recovery is unlikely to be evenly spread and so far Asian carriers have voiced greater optimism than their European counterparts.
Overall the industry is still expected to lose a further $5.6 billion (£3.6 billion) in 2010, adding to last year’s losses of $11 billion which resulted in several high-profile bankruptcies.
But with the global economy stabilising and with carriers refining their business models, the IATA says 82 per cent of airlines now expect passenger demand to rise in 2010.
© Cheapflights Ltd (Creative Commons image: Dave Heuts / Flickr)
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