Air Transport Association predicts 3 percent passenger decline

The International Air Transport Association is forecasting its first predictable decline in passenger traffic since 1991.

“Recession is now forecast for North America, Europe and Japan late this year and into 2009,” IATA said in its latest report.

In 1991, the last major downturn in air traffic driven by recession, global passenger traffic fell 2.6 percent, the IATA said. The group predicts it will drop 3 percent this year.

While airlines have cut capacity enough to survive the downtown, their own competitive nature will prevent them from maintaining higher fares, the IATA also said.

For statistics on traffic at Phoenix Sky Harbor International Airport and other Arizona economic data. Click here

Src: http://www.bizjournals.com/milwaukee/stories/2009/01/12/daily13.html