In its latest monthly Traffic Update, AEA reviewed the December figures…
In its latest monthly Traffic Update, AEA reviewed the December figures and, consequently, gave the first snapshot of the 2004 outcome.
Passenger boardings totalled 307 million. Allowing for changes in the membership, it is now possible to say that traffic is at last at a higher level than pre-2001 although of course between 3 and 4 years of growth have been lost.
Overall, passenger traffic was 9% higher than in 2003, although part of the growth was recovery of the volume lost in the Iraq War and SARS downturns. A plus 19.2% in Far Eastern traffic, in particular, pointed to a strong recovery in that market.
AEA also published a preliminary estimate of 2004 financial results. Given the hardships of the huge fuel price increase in late 2004, it was with some satisfaction that the Association was able to report that 2004 was the first profitable year for its members, collectively, since 1998.
The projected operating surplus of US$ 900m was, said AEA, a figure that should be viewed in the context of accumulated losses over the previous five years of some $6.4 billion.
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