International Air Traffic Up through May

Air traffic of passengers worldwide grew an astounding 38 percent in May compared to the same month a year ago, to combine a 19.4 percent increase in the first five months of 2004, the International Aviation Transport Association (IATA) informed this week.

The report indicates that cost-cutting policies continue to be a top priority amid spiking fuel prices.

Asian routes climbed 108 percent in May and an overall 29.4 percent during the first five months of the year, figures that signal a “complete” recovery from the SARS outbreak.

In Europe, the number of flown travelers soared 19.1 percent, totaling 12.9 percent from January to May this year.

IATA Director-General Giovanni Bisignani pointed out these figures are way above what the aviation industry logged in the first five months of 2000, for many the last “normal year” for the sector.

As a matter of fact, a comparison between both spans of time yielded that the number of airborne travelers was up 8.8 percent from January to May this year.

Regardless of these good numbers, IATA officials believe this recent increment stems from high oil prices that, despite a tendency to level off now, remain above $33 a barrel. This price tag is causing the aviation industry to lose as many as $1 billion (€820 million).

Mr. Bisignani considers that advances in efficiency and further cost cutting are still the only hopes airlines can cling to in an effort to make the international aviation industry bounce back to its former self.