ATA reports decline in passenger and cargo demand.
Press Release Summary:
According to ATA, passenger revenue fell 19% in February 2009 vs. same month in 2008, which is 4th consecutive month revenue has fallen from prior year. Cargo traffic for airlines declined 21% year-over-year in January 2009 and transpacific cargo traffic fell 32%. Declines affected mainland U.S. as well as transatlantic, transpacific, and Latin markets. Annually, commercial aviation helps drive $1.1 trillion in U.S. economic activity and over 10 million jobs.
Original Press Release:
Air Transport Association Reports Sharp Decline in Passenger and Cargo Demand
Recession Impacting Aviation Marketplace - Fallout Spreads to Transoceanic Routes
WASHINGTON, March 20, 2009 - The Air Transport Association of America (ATA), the industry trade organization for the leading U.S. airlines, today reported that passenger revenue fell 19 percent in February 2009 versus the same month in 2008 - the fourth consecutive month in which revenue has fallen from the prior year.
Twelve percent fewer travelers paid 8 percent less to fly one mile on U.S. airlines, with declines extending beyond the mainland United States to transatlantic, transpacific and Latin markets. Year-over-year results were also adversely affected because February 2008 consisted of 29 days.
Compounding the softening demand for travel, U.S. airlines saw cargo traffic - as measured by revenue ton miles - decline 21 percent year over year in January 2009, after back-to-back 17 percent declines in November and December 2008. Notably, transpacific cargo traffic fell 32 percent. February 2009 cargo data is not yet available.
"The sharp decline in spending by passengers and shippers demonstrates how the global recession is taking an increasing toll on the traveling public, as well as on time-sensitive cargo shipments," said ATA Chief Economist John Heimlich. "The worldwide slowdown is forcing further capacity reductions, despite the meaningful drop in fuel prices."
Annually, commercial aviation helps drive $1.1 trillion in U.S. economic activity and more than 10 million U.S. jobs. On a daily basis, U.S. airlines operate nearly 30,000 flights in 77 countries using more than 6,000 aircraft to carry an average of two million passengers and 50,000 tons of cargo. More than half of U.S. exports by value move by air and every $1 million of aviation economic activity generates approximately 24 U.S. jobs.
ATA airline members and their affiliates transport more than 90 percent of all U.S. airline passenger and cargo traffic. For additional industry information, visit www.airlines.org.
CONTACT:
Elizabeth Merida
202-626-4205
Victoria Day
202-626-4141
