Middle East leads growth in 2007, but gap narrows in December
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he Middle East concluded 2007 with an overall increase in passenger traffic (RPKs) of 18.1% year-on-year, maintaining its position as the fastest growing region for passenger traffic. RPK growth remained between 15-20% until Dec-07, when it slipped beneath 15% for the first time.
The Nov-07 to Dec-07 period represents the only time this year that RPK growth rates have declined for two months in succession. Middle East RPK growth in Dec-07 was 12.8% year-on-year, slipping from 18.3% in Nov-07. Capacity growth in the region is closing the gap with the worldwide industry’s international average (“Industry”) RPK growth of 6.7%, but is still more than double the Industry average.
Middle East capacity (ASK) growth trailed traffic (RPK) growth over the course of 2007, rising 14.5% year-on-year, well short of the 18.1% growth in RPKs.
Much like RPK growth rates, the gap between the Middle East and the Industry has narrowed considerably in the latter stages of 2007. ASK growth has declined steadily since Sep-07.
Meanwhile, international ASK growth rates have been steadily climbing from the constant 5-6% bracket over the first half of the year. By comparison, Industry ASK growth in Dec-06 was 6% year-on-year, and has remained above 6% since Aug-07.
In Dec-07, Middle East average load factors surpassed the Industry average for the first time since Jan-07, reporting an average level of 76.5%, compared to the Industry average of 76.0%.
Over 2007, Middle East average load factors have trailed the industry average by 1-2%, reporting a yearly average of 75.9% compared to the Industry average of 77.0%.
(c) Centre for Asia Pacific Aviation. Date posted: 26-Feb-08.
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Middle East leads growth in 2007, but gap narrows in December
