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IATA Reveals Airlines Carried 4.4 Billion Passengers in 2018

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New research from the International Air Transport Association revealed that airlines around the world carried 4.4 billion passengers in 2018, an increase of 6.9 percent from the previous year.

The IATA also found that efficiency reached record-breaking numbers, as 81.9 percent of available seats were filled. Fuel efficiency also improved by more than 12 percent when compared to 2010 figures.

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Low-cost carriers boasted the most growth, with the segment increasing by 13.4 percent in terms of available seat miles. The airline sector accounted for 29 percent of global seats in 2018, up from 16 percent in 2004.

“Airlines are connecting more people and places than ever before. The freedom to fly is more accessible than ever,” IATA CEO Alexandre de Juniac said. “And our world is a more prosperous place as a result. As with any human activity this comes with an environmental cost that airlines are committed to reducing.”

“We understand that sustainability is essential to our license to spread aviation’s benefits,” de Juniac continued. “From 2020 we will cap net carbon emissions growth. And, by 2050, we will cut our net carbon footprint to half 2005 levels.”

Flight availability is also on the rise, with 22,000 city pairs now connected by direct journeys, an increase of 1,300 over 2017 and double the 10,250 city pairs connected in 1998. As for the cost of air transport, it has been cut in half over the last 20 years.

The region that saw the fastest growth in airline passengers during 2018 was the Asia-Pacific region. In total, 1.6 billion passengers in the region, an increase of 9.2 percent compared to 2017 and representing 37.1 percent of the global market share.

Airlines in North America carried 989 million passengers last year, an increase of 4.8 percent.

This post was published by our news partner: TravelPulse.com | Article Source |

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United Puts Financial Losses Into Shocking Perspective

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With the demand for travel at an all-time low thanks to stay-at-home directives and severe travel restrictions, United Airlines on Thursday put the industry’s financial losses into a stark perspective.

According to the aviation blog The Points Guy, which had privy to view a virtual town hall held by the carrier, United is losing “over $100 million a day” due to the impact of the coronavirus global pandemic, United president Scott Kirby said.

Kirby conducted the town hall along with current CEO Oscar Munoz, who is stepping down in favor of Kirby later this year.

As The Points Guy pointed out, United cut almost 70 percent of its schedule in April with further cuts likely for May—as all airlines have. In fact, predictions going forward are dire. The International Air Transport Association (IATA) said they expect airlines to lose a collective $61 billion in the second quarter of this year (April, May and June).

United said it will pursue some of the $25 billion in grants available for employee compensation from the U.S. government stimulus package, as well as consider whether to apply for some of the $25 billion in loans. But this is all uncharted territory for the industry, even after the financial devastation from the Sept. 11, 2001 terrorist attacks.

“One of the lessons from this is, our stress test from 9/11 wasn’t stressful enough,” Kirby said in reference to United’s preparations and need for cash to keep operating.

United has not decided whether to permanently retire any jets as a result of the coronavirus, according to The Points Guy.

“If we want to emerge stronger, if we want to emerge the world’s leading airline on the other side of this, we have to have flexibility,” he said.

This post was published by our news partner: TravelPulse.com | Article Source

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