Asia Pacific airlines continued to suffer a sharp fall in passenger and cargo traffic despite signs of a broader economic rebound in the region, an industry group said Wednesday. The Association of Asia Pacific Airlines (AAPA) said passenger numbers slipped 7.8 percent in July, while cargo slumped 11.4 percent from a year ago.
For the first seven months of the year, its international passenger traffic fell 11.8 percent year-on-year, AAPA director-general Andrew Herdman said in a statement, warning that return to growth "is still some way off". "The Asia-Pacific air transport industry continues to experience weak demand for both passenger and freight traffic, still well below the levels of last year, despite some encouraging signs of a broader economic rebound taking shape across the region," he said.
"Traffic reductions may be easing, but a return to growth is still some way off." "Meanwhile, there is an added concern that oil prices remain stubbornly high, and could derail what is likely to be a fragile recovery for the global economy," Herdman added.
Following several years of sustained growth in travel demand, the industry group has recorded a net loss of 4.3 billion dollars in 2008, with international passenger numbers down 2.2 percent. International air cargo traffic declined by 6.7 percent last year. AAPA is the trade association of major scheduled international airlines based in the Asia-Pacific region. It is headquartered in Kuala Lumpur.
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