THINGS ARE slowing down. That was the message from International Air Transport Association director general and CEO Giovanni Bisignani when he released international traffic data for the month of February. “When we adjust for the impact of the leap year, passenger demand increased by 4-5% while freight was even more sluggish in the 2-3% range,” he said. “Demand is still growing but clearly we are in a different league from the 7.4% and 4.3% growth that we saw in 2007 for passenger and freight respectively.”