King Sturge: Airport Property Market Survey

The International Air Transport Association (IATA) called 2001 the “worst ever year” for air transport in its 2002 World Air Transport Statistics. In 2001 international passenger traffic was down 3.8% on 2000 levels, and international freight traffic fell by 7.0%. However, the air transport market is resilient and in mid-2002 IATA forecast that a recovery would begin during the year, with international passenger traffic growing by 0.9% pa and international freight growing by 2.7% pa.

There is a significant correlation between economic growth and demand for air transport. In the there is a correlation of 68.2% between economic growth and passenger numbers and a 59.8% correlation with air freight volumes.

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(source: King Sturge)

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