(Source: Bloomberg & Livemint.com)

Global airline passenger traffic fell 10 percent last month, the steepest decline since the recession began, led by a plunge in long-haul travel.

The decline, gathering pace from a 5.6 percent fall in year-on-year traffic in January, included a 12.8 percent reduction in passengers flown by Asia-Pacific carriers and a 12 percent drop among North American airlines, the International Air Transport Association said today in a statement.

While passenger numbers continued to deteriorate, the pace of declines in the freight market leveled out. International freight volumes were down 22.1 percent from a year ago, compared with drops of 23.2 percent drop in January and 22.6 percent in December, IATA said.

:  “Freight traffic, which began its decline in June 2008 before passenger markets were hit, has now had three consecutive months in the minus 22 to minus 23% range,” IATA added, says the Livemint.com (WSJ) article.

Giovanni Bisignani, IATA’s director general, said: “We may have found a bottom to the freight decline, but the magnitude of the drop means that it will take time to recover.”  But even as freight traffic stabilises, airlines are now feeling the squeeze in passenger traffic.