IATA predicts "return to profitability"

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The International Air Transport Association(IATA) welcomed 2002 international traffic results as a sign of recovery, with an increase of 0.06% in passenger traffic over 2001 despite a 4.3% drop in passenger capacity

South America and Asia/Pacific were the best performing regions, with passenger numbers increasing by 6.4% and 5.8% respectively.

Compared with 2000, the last year of normal operations, passenger traffic fell by 4%, but IATA ceo and director-general Giovanni Bisignani said the comparison were positive.

Said Bisignani: "This shows that we have started the recovery process. Now it is time for traffic growth to be matched with revenue growth and a return to profitability. If the political climate remains stable and military conflict is avoided, a 6.4% increase in passenger traffic could be realised in 2003."