Setting the scene……

IATA confirmed last month that growth in airline passenger traffic and cargo volumes fell in August, signalling an expected slowdown in demand. Scheduled international passenger traffic in August grew 6.4% year-to-year, down from a revised 9.5%, which was if you recall a revised down figure in itself. This news should not be taken lightly, if it were January or November then fine, but August should show good traffic being the holiday month. We could just sit back and say that things are still fine as the only way is up but of course the reality is so much more complicated.