(MENAFN - Jordan Times) The air transport business was slow during June this year compared to the same month last year, IATA Regional Vice President Majdi Sabri said on Saturday.
"A technical report prepared recently by the International Air Transport Association (IATA) emphasised lesser demand on air transport services during June," he indicated.
According to Sabri, growth of passenger demand on air travelling services plunged to 3.8 per cent, the lowest since 2003. Air cargo transport also declined by 0.8 per cent
The decline defied an expected increase in the travel rate during summertime which is considered the annual vacation season.
Sabri predicted that "the situation may get worse, especially due to a confidence decline among customers and companies in the sector, accompanied by the rise in fuel prices".
The IATA regional vice president described the sector's current slowdown as a crisis, noting that the sector's losses could be as high as $6 billion this year.
Despite the distinguished growth in this sector over the past five years in the Middle East and North Africa (MENA) region, the growth posted during the first half of this year was less than that recorded during the same period over the past five years, Sabri said.
The growth in the number of passengers travelling to and from MENA countries during the first half of this year was 10.6 per cent compared to 17.8 per cent during the same period last year, he indicated.
The levels of the freight transport business in the MENA region remained unchanged at around 11.8 per cent in growth compared to 2.4 per cent growth on the international level.
Earlier periodic reports prepared by IATA revealed that aviation companies in Latin America recorded the highest decline in the air cargo business, a drop of 12.8 per cent.
In terms of geographic contribution, Europe accounted for 34 per cent of passenger movement while Middle East contribution was 8 per cent.
More than 24 international aviation companies have declared bankruptcy since the beginning of this year.
Founded in 1945, IATA has become the prime vehicle forinter-airline cooperation, with its 230 members from 126 nations around the globe.
IATA works to help airlines boost their business by simplifying processes and increasing passenger convenience while reducing costs, improving efficiency and improving safety standards.
"A technical report prepared recently by the International Air Transport Association (IATA) emphasised lesser demand on air transport services during June," he indicated.
According to Sabri, growth of passenger demand on air travelling services plunged to 3.8 per cent, the lowest since 2003. Air cargo transport also declined by 0.8 per cent
The decline defied an expected increase in the travel rate during summertime which is considered the annual vacation season.
Sabri predicted that "the situation may get worse, especially due to a confidence decline among customers and companies in the sector, accompanied by the rise in fuel prices".
The IATA regional vice president described the sector's current slowdown as a crisis, noting that the sector's losses could be as high as $6 billion this year.
Despite the distinguished growth in this sector over the past five years in the Middle East and North Africa (MENA) region, the growth posted during the first half of this year was less than that recorded during the same period over the past five years, Sabri said.
The growth in the number of passengers travelling to and from MENA countries during the first half of this year was 10.6 per cent compared to 17.8 per cent during the same period last year, he indicated.
The levels of the freight transport business in the MENA region remained unchanged at around 11.8 per cent in growth compared to 2.4 per cent growth on the international level.
Earlier periodic reports prepared by IATA revealed that aviation companies in Latin America recorded the highest decline in the air cargo business, a drop of 12.8 per cent.
In terms of geographic contribution, Europe accounted for 34 per cent of passenger movement while Middle East contribution was 8 per cent.
More than 24 international aviation companies have declared bankruptcy since the beginning of this year.
Founded in 1945, IATA has become the prime vehicle forinter-airline cooperation, with its 230 members from 126 nations around the globe.
IATA works to help airlines boost their business by simplifying processes and increasing passenger convenience while reducing costs, improving efficiency and improving safety standards.
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