Worldwide air passenger traffic demand grew 7.7% year-over-year in May, slowing from a six-year high 10.9% growth in April, according to IATA’s May Air Passenger Market Analysis. IATA emphasized that, despite the slowdown, demand remains strong and is “well ahead of both the five- and 10-year average rates (6.4% and 5.5%, respectively).” Business confidence, as measured in the services purchasing managers’ index (PMI), has flattened since January after having risen ...

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