Finally, some uplifting airline news
With modest income increases and forecasts of growing demand, the nation’s airline industry is showing sings of a recovery, according to several accounts.
“The indications of a recovery, documented in recent government and airline reports, come after 14 straight months of declining revenue for the nation’s airlines and passenger traffic totals that have been dropping for almost two years,” said the LA Times.
But the modest recovery applies not just in the US but worldwide.
"We are starting to see some encouraging signs in demand, albeit with large differences among the regions," says Giovanni Bisignani, IATA director general of the International Air Transport Association (IATA).
In the Middle East, demand soared 23.6 per cent in January compared to January of last year, while in Latin America, growth was also a robust 11 per cent.
Carriers in North America and Europe recorded a more muted recovery, with passenger traffic demand up just 2.1 per cent and 3.1 per cent respectively.
"This reflects the jobless recovery from the recession in which consumers are focused on paying down debt," said IATA.
The news may be a mixed blessing for airline travelers.
As demand increases, airlines are likely to gradually raise airfare rates, experts say.
If demand remains strong, the airlines are expected to add more flights and new routes to meet the demand.
”Although the forecasts and analysis show that airline trends are moving in a positive direction, industry experts say the airlines have a long way to go before they can expect revenue and passenger traffic numbers to return to pre-recession levels,” according to the Times.
Majestic Research Corp. released a study showing higher revenues for discount airlines are a sign that demand for business travel is also returning — a key component to any overall travel recovery.
By David Wilkening
David
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