Slower trend for global air passenger travel

Significant deceleration in June on earlier rises
Passenger travel on international markets rose by just 3% in June compared to the same month a year ago, the International Air Transport Association reveals in its latest Premium Traffic Monitor, released yesterday. It is a significant deceleration on May’s increase of 6.2% year-on-year.
Economy travel grew at a stronger rate than premium, but both classes experienced a notable slowdown within the Far East region. Economy rose 3.2%, a slowdown on May’s 6.4%. Growth in economy class – the more price sensitive travel market – has been supported by lower fares over recent months.
Premium travel was up just 1.4% in June, down from May growth of 4.1%. Growth in premium reflects continued weakness in business travel demand drivers, with global business confidence being dragged down by emerging markets.
The subdued performance in both classes was mostly a result of slow growth within the Far East. This could be the first sign of weakness in air travel demand following months of sluggish economic performance in some parts of Asia.
Looking ahead, IATA says, although improvements in the Eurozone economy have translated into stronger demand for travel in both premium and economy classes over recent months, weakness in emerging markets could counter this positive trend.
TTG Nordic

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