07 February 2008 Air traffic growth 'set to slow' in 2008
Air traffic growth is set to climb at a slower rate in 2008, one commentator has reported.
The comment from the International Air Transport Association (IATA) comes as it releases its full-year traffic results for 2007 which reveal strong growth last year.
According to IATA, international passenger traffic demand grew by 7.4 per cent for the full-year of 2007 which, it claims, represents a "considerable" growth on the 5.9 per cent rise reported in 2006.
"Strong passenger traffic growth of 7.4 per cent was a key component of the industry's $5.6 billion (£2.5 billion) profit in 2007 - the first black number since 2000," said Giovanni Bisignani, director genera of IATA.
IATA notes that Europe saw a rise in demand from 5.3 to six per cent in 2006, which it claims reflects "steady economic growth".
However, Mr Bisignani concluded that the US-led credit crunch, and higher oil prices were likely to dampen growth in 2008.
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