IATA airlines record first drop in a decade

FOR THE first time in ten years scheduled international air traffic dropped almost 10% in December 2001 compared with the same month in 2000. There was an 8% dip for the whole year. According to an International Air Transport Association (IATA) report passenger traffic was also down nearly 12% in December and 4% for the year. During 2001, total traffic, including passengers and freight, fell by nearly 6% against a total capacity decrease of less than 1%. "There are two hopeful signs," said Pierre Jeanniot, IATA's director general and CEO. "Capacity cuts in December were in line with market conditions, and we know from our Corporate Air Travel Survey that a pick-up in business travel may not be far away."