×
Home Companies Industry Politics Money Opinion LoungeMultimedia Science Education Sports TechnologyConsumerSpecialsMint on Sunday
×

Worst may be over for Asian airlines but losses continue: Iata

Worst may be over for Asian airlines but losses continue: Iata
PTI
Comment E-mail Print Share
First Published: Fri, Oct 30 2009. 04 21 PM IST
Updated: Fri, Oct 30 2009. 04 21 PM IST
New Delhi: The worst may be over for the Asian airlines including those from India, which have recorded the “most significant improvement” in passenger traffic last month by recording positive growth against negative in August.
Bucking the global trend, “Asia-Pacific carriers recorded the most significant improvement from minus 1.6% in August to plus 2.1% in September,” the International Air Transport Association (Iata) said.
The overall passenger demand “is now 5% better than the low point reached in March 2009, but 6% below the peak recorded in early 2008,” Iata said in its latest global air traffic analysis.
Noting that three factors were influencing this growth, the Iata report said, while the government’s stimulus packages in the major economies were driving production increases, the Asia-Pacific region’s banking system was relatively strong and its consumers were not as burdened by debt as those in Europe and the US.
However, “it is far too early to call this a recovery. The worst may be over in terms of the fall in demand, but yields continue to be a disaster and costs are rising. The airline industry remains firmly in the red with a fragile business environment,” Iata director general and CEO Giovanni Bisignani said.
Comment E-mail Print Share
First Published: Fri, Oct 30 2009. 04 21 PM IST