IATA Data Show Air Travel Growth Slowdown

Worldwide premium air travel growth nearly halted in January, rising by just 0.4 percent over the same period last year, according to the International Air Transport Association's Premium Traffic Monitor, released yesterday.

Premium ticket volume growth has declined steadily since October 2007, data show, and IATA attributes the ongoing sluggishness to weakness in this economic cycle. "One month's data can be dismissed as noise, but there seems now to be signs of a clear break in trend, a turning point towards slower growth in traffic volumes," IATA reported. "Business and premium travel is always more sensitive and more highly geared to the business and financial cycle."

IATA in its report yesterday said it initially appeared that passengers were switching from premium to economy tickets, but it found in that economy travel also slumped for two consecutive months, growing only 3.1 percent in January.