'Worst may be over' for airline industry
May 28, 2009The airline industry appears to have weathered the brunt of the economic downturn, according to the International Air Transport Association (IATA).
Director General Giovanni Bisignani noted that the trend of double-digit falls in passenger numbers has now ended, declaring the "worst may be over".
Although global air passenger traffic fell by 3.1 per cent in April, that marked a dramatic improvement on the previous two months.
The industry has been hit by a slew of challenges since last summer, notably including run-away oil prices, a global recession and the Swine Flu scare.
And while the latest figures show that it has yet to turn the corner completely, Mr Bisignani still felt reassured enough to proclaim: "The worst may be over."
"However, we have not yet seen any signs that recovery is imminent," he cautioned.
Among the best performing regions, the IATA said that carriers operating in the transatlantic market have succeeded in wooing passengers with discounted airfares.
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