Global airline passenger traffic up 5.7% in January—IATA

GENEVA—Global air passenger traffic rose by 5.7 percent in January from the level 12 months earlier, but freight activity fell by 8.0 percent, the International Air Transport Association said on Wednesday.

The Chinese New Year in January, instead of in February in 2012, exaggerated the increased passenger demand and the fall in air freight, IATA said in a statement.

“The year started with some hopeful news on business confidence. It appears that freight markets have stabilized, albeit at weak levels,” said CEO Tony Tyler.

“And this is having a positive impact on business-related travel.

“However, airlines face two big risks: rising oil prices and Europe’s sovereign debt crisis. Both are hanging over the industry’s fortunes like the sword of Damocles,” it said.