European airlines boosted by 'robust' business travel | ABTN

Posted Thursday, 2 February, 2012 - 09:00 by Rob Gill

Europe?s airlines performed ?strongly? throughout 2011 despite the second half of the year being dominated by the eurozone financial crisis.

Figures from IATAThe International Air Transport Association: IATA represents and serves the airline industry, with a membership made up of around 230 airlines. The association seeks to raise awareness of how aviation benefits the economy, fight for airline's interests and ensure industry regulations are sensible. IATA helps its members directly by offering advice on reducing costs while improving efficiency and on improving safety standards. It also provides professional support in the form of publications, training and consulting. showed that European carriers had the second highest passenger growth rate last year at 9.5% - only Latin American airlines saw faster growth in 2011.

IATA said that ?robust business travel? on long-haul routes had helped boost passenger numbers in Europe with the weak euro also fuelling demand. But the association warned that Europe?s airlines had the lowest average profitability of all the world?s regions.

Globally, passenger numbers grew by 5.9% in 2011 compared to the previous year although capacity rose by 6.3%, which meant a fall in overall load factors from 78.3% in 2010 to 78.1% last year.

Tony Tyler, IATA?s director general and CEO, said there were some ?heartening developments? so far in 2012, such as improving business confidence and signs of recovery in the US. But he warned the eurozone crisis still could have ?dire consequences? for the global economy.

?It is far too early to start predicting a soft landing for 2012. The eurozone crisis is far from over. Failure to achieve a durable solution will have dire consequences for economies around the world and it would most certainly tip the airline industry into the red,? said Tyler.

European airlines saw 9.8% growth in December although this was on the back of a 10.3% rise in capacity. It also compares against December 2010 when flights were severely affected by bad weather across much of northern Europe including the UK.

Tyler added: ?Given the weak conditions in Western economies the passenger market held up well in 2011. But overall 2011 was a year of contrasts. Healthy passenger growth, primarily in the first half of the year, was offset by a declining cargo market. Optimism in China contrasted with gloom in Europe.

?Ironically, the weak euro supported business travel demand. But Europe's primarily tax and restrict approach to aviation policy left the continent's carriers with the weakest profitability among the industry's major regions.

?Cautious improving business confidence is good news. But 2012 is still going to be a tough year.?

Source: http://www.abtn.co.uk/news/0216912-european-airlines-boosted-%E2%80%98robust%E2%80%99-business-travel

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