The International Air Transport Association (IATA) released a report that air travel has declined along with the cost of flying. Globally, airlines carried 2.9% fewer international passengers in July than the year before, a significant improvement over June and the average of the first seven months of the year. IATA estimates that airlines will lose $9 billion in 2009.
ATA reports that U.S. airline passenger revenue decreased 21% in July, its ninth consecutive year-over-year drop. Passenger enplanements fell 5.2% with domestic off nearly twice as much as international enplanements. Good news though for travelers; The average price to fly one mile fell 18 percent.
Enjoy the discounts while you can. Carlson Wagonlit Travel North America forecasts that domestic airfares will increase 3 to 5% and international airfares will increase as much as 6% in 2010.