International Air Transport Association (IATA) unveiled that in month october fares down 20% as compared with 2008 but airlines saw a rise in demand of 0.5% in October compared with the same month in 2008
IATA reported that carriers in Europe and North America still saw a drop in traffic for the month of October, respectively, 3% and 2.6%.
Giovanni Bisignani, IATA’s ceo, said: “The crisis has cost the industry two years of growth. Adjusting costs and capacity to meet that reality will be challenging.”
Middle Eastern carriers performed the best out of the regions, reporting a rise in demand for air travel of 14.3%, but this is increase is lower than the 18.2% rise in September.Giovanni Bisignani, IATA
Latin America also saw a rise in demand, of 9%, higher than the 3.4% rise the previous month.
