IATA announces: 2009 was the worst year for air freight traffic
The International Air Transport Association (IATA) has announced that 2009 was the worst year for air freight and air passenger traffic in the post-war era. IATA Director General and CEO Giovanni Bisignani said: ‘2009 goes into the history books as the worst year the industry has ever seen’.
Air freight volume fell by 10.1% and air passenger traffic fell by 3.5% compared to 2008. The average load factor of flights (i.e. how full a flight is in terms of passengers and freight) was 77.6%.
There was a marginal improvement in December 2009, but overall 2010 looks to be a tough year for airlines once again as they struggle to balance demand and capacity whilst keeping costs under control and accommodating new security challenges.
IATA has stated that airlines around the world collectively lost £6.8 billion last year and further large losses are predicted for this year also.
IATA is an international trade organisation which represents over 230 airlines across the world, covering over 90% of global air traffic.
