Mideast passenger traffic drops for first time in years
Sunday, 26 October 2008
Air passenger traffic for Middle Eastern airlines has dropped for the first time in years as the global economic downturn took its toll on the aviation industry, according to new industry figures.
The International Air Transport Association (IATA) said on Friday passenger traffic dropped 2.8 percent in September after years of double-digit growth as international passenger traffic declined 2.9 percent.
"While the region’s oil-based economy remains strong, the large portion of transit traffic exposes the region’s carriers to the global economic weakness," IATA said in a statement.
The region's passenger traffic figures are a far cry from the 4.3 percent growth in August and 5.3 percent in July, and in complete contrast to the 10.6 percent increase recorded during the first six months of the year.
Giovanni Bisignani, IATA director general and CEO, said the drop in traffic is the worst since the outbreak of the SARS respiratory disease in 2003.
"The deterioration in traffic is alarmingly fast-paced and widespread. We have not seen such a decline in passenger traffic since SARS in 2003," Bisignani said in a statement.
"Even the good news that the oil price has fallen to half its July peak is not enough to offset the impact of the drop in demand."