Global 2010 growth in the airline sector to be headed by Asian economies
Abi BrayAirlines based in the Asian region are said to be counting on a surge in domestic demand during the coming year in a bid to get reacquainted positive financial outcomes.
Commercial passenger aviation industry experts have said they’re expecting the year 2010 to still be a challenging period, despite some carriers claiming to be experiencing the beginning of an upswing in business.
For the airline industry on a global scale, the year 2009 has proven to be one of the most difficult one in history.
The commercial aviation industry, which is highly leveraged, immediately experienced the impact of the credit crunch when the markets froze, thus squeezing its operations.
Airlines around the world have all seen a sharp drop in passenger numbers as well as in freight traffic which begun with the signs of the recession and was subsequently made worst by the spread of the H1N1 virus and its potentially deadly outcome.
According to recent study carried out by the International Civil Aviation Organisation, shows traffic on global airlines has fell 3.1 percent during 2009, a figure which represents the largest slump ever experienced in the industry of commercial aviation.
All of the world’s regions have experienced a drop in passenger numbers, both on domestic flights as well as international ones, with the exception of the Middle East, which saw a 10percent jump in business.
However, as 2010 appears on the horizon, the forecast for airlines based in the Asia Pacific region would appear to be somewhat rosier.
Officials at the International Air Transport Association (IATA) have said that the Asian region is expected to be the one which will see dramatic improvement during the course of 2010, mostly spurred by indications of rebounding regional economies.
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