The International Air Transport Association announced today that there was a 10.1% year-on-year increase in passenger traffic for the month of October and a 14.4% year-on-year increase last month for international freight volume (see chart above). Passenger traffic has now increased in 14 out of the last 15 months, and five of those months have been double-digit improvements. Freight traffic has increased for 13 consecutive months, and the last 12 have been double-digit gains.
“As we approach the end of 2010, growth is returning to a more normal pattern. Passenger demand is 5% above pre-crisis levels of early 2008, while freight is 1% above. Where we go from here is dependant on developments in the global economy. The US is spending more to boost its economy. Asia outside of Japan is barrelling forward with high-speed growth. And Europe is tightening its belt as its currency crisis continues. The picture going forward is anything but clear, but for the time being, the recovery seems to be strengthening."
