IATA’s August Traffic Numbers Reflect a Downward Shift
From July to August, international markets also declined by 1.8 percent, while already weak domestic markets
IATA general director Tony Tyler issued a pessimistic outlook last week for the air transport industry’s growth prospects. (Photo: IATA)
IATA general director Tony Tyler issued a pessimistic outlook last week for the air transport industry’s growth prospects. (Photo: IATA)

A report released last week by the International Air Transport Association (IATA) pointed to decelerating airline passenger demand for the month of August. Although demand increased 4.5 percent over the previous August, the growth amounts to a “significant slowing” from the 6.0 percent recorded in July. Meanwhile, the decline in freight markets accelerated, from a 1.8-percent decline in July to a 3.8-percent contraction in August.

“The industry has shifted gears downward,” said IATA director general and CEO Tony Tyler. “With business and consumer confidence continuing to slump globally there is not a lot of optimism for improved conditions anytime soon.”