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Business EconomyPosted at: Aug 31 2018 5:58PM


IATA says aviation sector may slow down due to fuel hike

Geneva, Aug 31 (UNI) Owing to rising crude oil prices, pressures on airlines are rising and hence the aviation sector may go slow down, International Air Transport Association (IATA), said on Friday.
The Association, releasing a report, said that in July the number of air passengers in all areas of the world has increased. The per-kilometer revenue of the airlines has increased by 6.2 per cent on a year-on-year basis while it slowed down by 8.1 per cent in June.
In July, the capacity of the airline on seat basis rose by 5.5 per cent. The ratio of passenger load grew from 0.6 per cent to 85.2 per cent, which is highest in July during any year.
IATA CEO Alexandre de Juniac said, “The industry posted another month of solid traffic growth. And the record load factor shows that airlines are becoming even more efficient in terms of deploying capacity to meet demand. However, rising costs -- particularly fuel -- will likely limit the stimulus we would expect from lower airfares. Therefore, we do expect to see a continued slowing of growth compared to 2017.”
In July this year, the number of passengers on international routes increased by 5.3 per cent and 7.8 per cent on domestic routes compared to July last year. This is the first time in three months that growth in all areas has been witnessed. The fastest growth was in the Asia-Pacific region.
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