There is finally some good news for the global air industry. According to the International Air Transport Association (IATA), global air travel is finally back to the level it was at before the global downturn in 2008. However. this announcement turned out to be bittersweet, as this good news was followed up with some bad news. Apparently the organization also said that high jet fuel prices and other crises could actually hurt this huge rebound.

The director general and chief executive officer of the IATA, Giovanni Bisignani, said that profits are currently being “squeezed” by the succession of crises that plagued the first 4 months of this year. Thus, the nice rebound that the airline industry is seeing may still be under a lot of pressure.

The IATA went on to say in its monthly report that air traffic actually grew 16.5 percent year-on-year in April. This big growth was mostly led by European and Latin American carriers. Of course, the airline body did note that these improved figures were kind of “exaggerated” by the disruptions that were seen last year due to the Iceland volcanic ash cloud that caused problems in European airspace.

Either way, the report did show that European carriers showed an improvement of about 29.3 percent this year when compared to last year. Latin America was in second place with an improvement of about 25.9 percent. Other markets did see an improvement as well. In fact, the Asia-Pacific market also saw an improvement of about 5.1 percent. This was mostly due to strong demand in both China and India.

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This entry was posted on Friday, June 3rd, 2011 at 10:33 am and is filed under Travel News. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.