Friday, August 31, 2012

NEWS| Indian aviation the worst performer in slowing Global Aviation market: IATA

IATA said in its latest report that Indian domestic market contracted by 1.1% compared to last July and got itself a not so an envious position as it is the worst performer globally.
 Confirming the worst fears of airline companies and aviation analysts the global airline bodyInternational Air Transport Association (IATA - has 254 scheduled airline as members) said in its latest report that Indian domestic market contracted by 1.1% compared to last July and got itself a not so an envious position as it is the worst performer globally.



The rest of the world too slowed down in July but aviation markets in Middle East and Africa grew bucking the trend the airline body said. But the increasing fuel prices will make airlines sweat and make it a tough second quarter for them.

"Indian domestictraffic fell 1.1% compared to a year ago, the worst performance for any market, reflecting the weakening economy among other factors. After expanding at 20%-plus rates through 2010 and early 2011, the Indian market stopped growing at the end of 2011. July capacity rose 2.1%, dropping the load factor to 69.6% from 71.8% last year," IATA's report for the month said.


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