passenger traffic demand grew 7.4% for the full-year 2007 up
considerably from the 5.9% increase recorded during 2006.
passenger traffic demand rose 6.7% down from the 9.3% jump recorded
in November. This step down reflects the impact of rising prices and
economic uncertainty that grew more acute in
international passenger load factors reached an industry record
77.0% in 2007, up from 76.0% in 2006 and 75.1% in 2005. This trend
will likely end in 2008 as demand growth is forecast to slow to 5%
while capacity rises 5.2%.
results for the full-year were varied:
in the Middle East
recorded an 18.1% increase in passenger demand continuing a
four-year trend of double digit increases. This was the highest
among all regions, resulting from strong regional economies, the
impact of oil wealth, expanded capacity and new
recorded 8.4% demand growth resulting from the effects of
restructuring in the region - a sharp recovery compared with the
2.4% fall in 2006.
recorded above average growth of 8% reflecting the strong economic
growth and successful market liberalisation in parts of the
carriers’ 7.3% growth mirrored that of the global average. Growth
indicates the continuing strength of the Chinese and Indian economic
expansion making air travel accessible to large new markets.
saw demand rise from 5.3% in 2006 to 6.0% in 2007, reflecting steady
economic growth and expansion on long-haul routes to Asia and the
recorded 5.5% growth in 2007. This continues the growth of 5.7%
recorded in 2006 as region’s carriers transfer capacity to more
lucrative international markets.
air freight traffic grew by 4.3% in 2007. This is down slightly from
growth of 4.6% seen in 2006 and much lower than the 7-8% growth
trend of recent years.
freight demand grew 4.7% in December, up from 3.5% in November,
largely due to temporary, year-end related, factors.
air freight demand environment will remain challenging. Growth is
expected to slow in the first half of 2008 before picking up with
overall growth of 4-4.5% projected for 2008.
carriers led all regions in 2007 with a 10.1% increase in freight
demand down sharply from 16.1% in 2006. Airlines in Asia Pacific, which account
for 45% of the international total, saw freight demand rise 6.5% in
2007, driven by strong growth in several economies in the region.
passenger traffic growth of 7.4% was a key component of the
industry’s US$5.6 billion profit in 2007—the first black number
since 2000,” said Giovanni Bisignani, IATA’s Director General and
CEO. “But it wasn’t all good news. Freight slowed to 4.3%, below the
4.6% recorded in 2006. It was also below the 7.5% at which global
trade expanded, highlighting a competitiveness issue with
the ambiguity of strong passenger growth accompanied by weaker
freight demand, we can say clearly that 2007 was the best in recent
memory. We can state equally clearly that there will be no encore
performance in 2008. Oil prices are higher than ever. Economic
uncertainty accompanying the US
credit crunch is broadening. And the slower growth for passenger
demand in December sets the trend for the coming months. In a tough
business environment the mantra remains the same: efficiency
everywhere is everything,” said Bisignani.
full 2007 traffic results