Aviation Market Shows Sign of Stabilisation

"June passenger volume and cargo traffic at Hong Kong International Airport (HKIA) declined by 18.9% and 13.4% when compared to the same month in 2008, to 3.3 million and 270,000 tonnes, respectively. Air traffic movements also decreased by 13.3% to 21,505. The declines in passenger volume and aircraft movements were mainly attributable to the continually weak global economy and reduction in flights by airlines to reflect lower demand. Demand for travel was further dampened by the global fear sparked by Influenza A (H1N1). As a result, travel by Hong Kong residents and visitors dropped by 12% and , visitors by 25% and transfer passenger traffic by 17% year-on-year respectively. On the cargo side, exports declined 17% over the same month last year, mainly due to the continually weak consumption markets in North America and Europe..." Next.