Full-year 2008 traffic figures released by IATA confirmed that passenger demand growth is slowing considerably while cargo traffic is contracting significantly. Passenger traffic grew just 1.6% in 2008, a major slowdown compared to 7.4% growth in 2007. Capacity rose 3.5% and load factor was 75.9%, down 1.4 points from a year earlier. Passenger demand fell 4.6% year-over-year in December. International cargo traffic contracted 4% for the full year, including a 22.6% year-over-year plunge in ...

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