IATA reports growth contracting in July

New figures out from the International Air Transport Association (IATA) show that global air passenger and freight traffic growth slowed in July. The only month-on-month growth was displayed in Africa, Chinese domestic traffic and by Middle Eastern carriers in July, all other areas growth fell including the Asia-Pacific region. Overall demand there grew just 0.9% in July, a major contraction compared to the 5.8% increase recorded in the June year-on-year comparison. “The uncertain economic outlook is having a negative impact on demand for air transport,” said Tony Tyler, IATA director general and CEO. “The cargo business is 3.2 percent smaller