IATA reports global passenger traffic up 15% in 2004

Gavin Lipsith

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The International Air Transport Association recorded double-digit passenger growth across all regions and predicts the aviation industry will return to profit this year

The Middle East and Asia/Pacific led the way with growth of 24.8% and 20.5% respectively, and Bisignani said that the one-off recovery from the effects of SARS on travel had contributed about 5% to global passenger growth.

Bisignani predicted that the airline industry would recover from an estimated loss of $4.8bn in 2004 to make a $2.1bn profit in 2005, although he added that the price of fuel would remain a critical factor. "The challenge for 2005 is to turn traffic growth into profitability, with improved cost efficiency across the industry's value chain," he said.

Click here to view IATA's global statistics for December and full year 2004.