Sept Air Traffic Falls Slightly, Rev A Concern |
| Wall Street Journal - Oct 5, 2009 |
September air passenger traffic fell slightly from a year ago, an improvement over previous months that indicates carriers been successful in downsizing to match this year's weak travel demand.
Improving traffic numbers drove airline stocks higher Monday, with the AMEX Airline Index up less than 1%, to $27.06, more than double the 12-month low quoted at $12.62.
But the industry continues to be challenged by weak business travel, as low average ticket prices depress revenue for many airlines on both sides of the Atlantic.
British Airways (BAY.LN) said Monday that business traffic didn't pick up in September as it usually does. Overall traffic last month fell less than 1%, but premium traffic, a key revenue driver, fell 7.9%, the airline said. It added that, for the rest of the year, it expects to face easier monthly comparisons for business travel, which last year was hit by the global financial meltdown.
Read Full Article from Wall Street Journal
- Posted: 2009-10-05 12:21:32
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