IATA slams “pathetic†airline profits
International airlines ended 2010 with a 2.7 percent profit margin, a figure described as “pathetic†by Giovanni Bisignani, IATA’s director general and CEO.
IATA said full-year 2010 demand for international scheduled air traffic showed an 8.2 percent increase in passenger business.
Average passenger load factor for the year was 78.4 percent, a 2.7 percentage point improvement on 2009.
Compared to the pre-recession levels of early 2008, December air travel volumes were four percent higher.
“The world is moving again. After the biggest demand decline in the history of aviation in 2009, people started to travel and do business again in 2010. The challenge is to turn the demand for mobility into sustainable profits,†said Bisignani.
Asia-Pacific carriers recorded a nine percent year-on-year increase in passenger demand in 2010.
And while December 2010 passenger demand growth slowed to 2.9 percent, it is 11 percent higher when compared to December 2008,
IATA said the economies of China and India continue to lead the region’s recovery.
Ian Jarrett
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