Airline industry “now shrinking by all measures”

The year has started out with gloomy predictions as the International Air Transport Association (IATA) says that the worldwide industry is “now shrinking by all measures”. November 2008 traffic data showed a 4.6 per cent drop in international passenger traffic and a 13.5 per cent drop in international cargo. International capacity dropped by one per cent, while load factors fell three percentage points to 72.7 per cent.

The article goes on to say that those airlines in the Asia Pacific area are working in the worst environment.  Even China has been hit after the Olympics. Eurpoean traffic is down also .. every market area fell.  North American airlines were not immune to the decrease in international traffic either – the second largest drop among regions.  Yes our financial economic woes have affected international travel.

 Bisignani concluded: “with no end in sight for the worsening global economy, the 2008 gloom will carry over into the new year. Relief in the oil price has been outstripped by the falls in demand and capacity cuts are not keeping pace. The industry is back in intensive care. Improving efficiency everywhere will be theme for 2009.”

Let me ask you …. when you read news like this, are you accepting it as fact because it was ‘reported on the news’?  Or are you asking yourself ‘Is this slanted … does the publisher want me to think fear, gloom and doom?’

It’s not what they wrote, it’s what you think you read