Iata cuts long-term passenger growth forecast on weaker economy

[FRANKFURT] The International Air Transport Association (Iata) cut its long-term growth forecast for the number of air passengers around the world, citing negative developments in the global economy, especially weaker forecasts for China.

Iata said on Thursday it now expected the number of air passengers to reach 7 billion by 2034, doubling from the 3.5 billion expected for 2015, with a 3.8 per cent average annual growth rate.

It previously saw passenger numbers rising by an average of 4.1 per cent per year to 7.4 billion in 2034.

REUTERS