Air travel growth worldwide is expected
to accelerate for the rest of 2014 as global business confidence improves in
the wake of worries about geopolitical developments and US Federal Reserve
monetary policy.
According to a new report from the
International Air Transport Association, international air passenger growth in
August rose by 4.5 per cent year on year and was up on the July result of 2.6
per cent.
However it said markets within Asia
continue to show weakness, reflecting adverse developments in specific nations
rather than “a fundamental weakness in the global demand backdrop. This
included the impact on Malaysia of the loss of flights MH370 and MH17 as well
as the effects of unrest in Thailand.
IATA noted travel within the Far East
continued to show weakness, with traffic within the intra-Asia market
contracting 0.3 per cent compared to a year ago and year-to-date growth a low
0.4 per cent.
IATA’s premium traffic monitor shows
global growth in both economy and premium air travel reached 4.5 per cent in
August after lacklustre improvements in June and July.
The rise in passengers was consistent
with signs of improving business conditions after a period of weakness in
international trade and business confidence earlier in the year, the airline
trade body said.
The improvement was supported by strong growth in markets like Europe-Far East (6.7 per cent) and North and Mid Pacific (7.1 per cent).
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