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US airline traffic forecast to rebound next year
The US Federal Aviation Administration (FAA) is predicting airline passenger traffic will continue to decline this year, followed by a strong recovery in 2003.
The FAA, in its annual Commercial Aviation Forecast released in Washington on Tuesday, said that despite an ongoing gradual recovery, passenger numbers in the financial year 2002 will fall 12.0 percent to 600.3 million. However, the FAA predicts that next fiscal year passenger demand will increase 14 percent to about 684.3m passengers.
The FAA sees airline passenger traffic returning to more normal levels of growth by Fiscal Year (FY) 2004, expanding at an average annual rate of 4.0 percent for the next ten years, reaching 1.0 billion passengers in FY 2013. That is three years later than predicted in last year’s FAA Forecast, which the FAA says is due largely to the recession last year and the terrorist acts of September 11.
FAA Administrator Jane F. Garvey said: “Regardless of the short-term decline in air traffic, our Forecast underscores the need for the government and the aviation industry to continue adding capacity to our system to meet the demand that will return and grow.”
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