After chaos in April when Eyjafjallajökull’s spewed volcanic ash all over northern Europe, air traffic increased in May.
- Airlines remain focused on recovering from 2009.
- The airline industry lost about $2 billion when passenger planes were grounded because of the eruption.
- Because of recent economic turmoil, Europe has shown weak airline industry growth.
Facts and Figures
- International passenger air traffic increased +12% in May.
- Airlines expect a $2.5 billion profit in 2010 – a huge turnaround from the $9.9 billion loss in 2009.
- Air freight increased +34% in May, up from 26%.
Best Quote
“This is good news, but it is only a 0.5% margin. We are still a long way from sustainable profitability.” – Giovanni Bisignani, Director General of the International Transport Association