Global Air Traffic Down 2.9 Percent in September

Global air passenger traffic declined 2.9 percent in September from the same month a year ago, the first such drop since the 2003 SARS scare, according to a monthly report from IATA.

IATA also reported that international load factors fell to 74.8 percent in September, down 4.4 percentage points from August.

“The deterioration in traffic is alarmingly fast-paced and widespread,” said Giovanni Bisignani, IATA director general and CEO. “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,” Mr. Bisignani said.

For September, all major regions reported drops in passenger traffic, with the exception of Latin American carriers, which saw an increase of 1.7 percent. The region reported 11.9 percent growth in the previous month.

Even Middle Eastern carriers, which had reported double-digit growth through the past couple of years, reported a 2.8 percent decline. African carriers posted the largest decline in traffic, about 7.8 percent.

But not all in the industry paint such a bleak picture. In calls with Wall Street analysts, airline executives reporting their Q3 results said the capacity cuts had started to offset lower passenger demand. And they don’t see demand dipping, as IATA does.