Air traffic continues to grow

Global passenger traffic increased by 8.6% and global cargo traffic by 5.2% in February compared to the same month last year, according to the International Air Transport Association (IATA). IATA has cut its airline industry profit forecast for 2012 to USD 3 billion from the USD3.5 billion it was forecasting in December due to the rise in oil and fuel prices.

Airbus and Boeing reported 540 orders in the first quarter of this year, up 143% compared to the first quarter of 2011. The backlog for large commercial aircraft increased from 8,208 aircraft at the end of 2011 to 8,442 at the end of March. The aircraft manufacturers delivered 268 aircraft in the first three months of this year, up 20% compared to the first quarter of last year.