Passenger traffic demand growth slowed in May compared to the last two years, according to the International Air Transport Association (IATA).
The association said global passenger traffic results showed that demand (measured in revenue passenger kilometers, or RPKs) rose 4.5 per cent compared to the same month in 2018.
This was in line with the revised April traffic growth of 4.4 per cent and above the recent trough of 3.1 per cent year-on-year growth recorded in March.
However, IATA said it remains below the 20-year average growth rate of around 5.5 per cent. Capacity (available seat kilometers or ASKs) climbed by a modest 2.7 per cent and load factor rose 1.4 percentage points to 81.5 per cent, surpassing last year’s record load factor of 80.1 per cent.
“Passenger demand growth has slowed compared to the past two years. This is in line with slumping global trade, rising trade tensions and weakening business confidence.
“In this challenging environment, airlines are managing capacity carefully in order to optimise efficiency,” said Alexandre de Juniac, IATA’s director general and CEO.