IATA unveils bullish passenger forecasts

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The International Air Transport Association's (IATA) latest passenger forecasts show the highest level of optimism within the air travel industry for three years. This bullishness is driven by general world economic growth trends.

The predicted Annual Average Growth Rate (AAGR) for total scheduled international passenger traffic for 2000-2004 is 5.6 %. The number of passengers on international scheduled services is set to rise by over 150m to a 2004 level of 643.1m.

IATA said: "Asia is central to this rebound with growth of the newly-industrialised economies back to mid-1990s levels and Japan predicted to recover slowly over the next two years."

The outlook has also been boosted by signs of economic recovery in South America. IATA's Annual Passenger Forecast reports are derived from its annual survey of the world's major airlines, airports and civil aviation authorities.