If you travel a lot, I’m sure you’ve had many of the same experiences I’ve had lately. Smaller planes as airlines try to save on fuel. Fewer routes and less capacity. More last minute schedule changes and delays. A greater risk of getting bumped from your flight.
We’re now seeing the full effects of nearly two years of rising fuel prices (although the trajectory has changed lately) and an economic downturn that is affecting travelers and travel suppliers in almost every corner of the globe.
According to OAG (Official Airline Guide), the number of domestic flights in the U.S. is expected to fall by almost 11% and capacity by 9% in the 4th quarter of 2008 compared to the same quarter last year. The result will be 21.4 million fewer seats during the last three months of 2008 – the busiest travel season of the year. Globally, the estimates are only slightly better – a 5.2% drop in capacity, 6.1% decline in the number of flights and 46.3 million fewer seats. And 219 of the world’s airports are losing scheduled air service altogether. [You can find more on the OAG’s analysis by clicking here.
The International Air Transport Association reports that international passenger traffic declined 2.9% in September, the first time since the SARS crisis in 2003 that global passenger traffic has shrunk. And international load factors fell to 74.8% in September. Read more »
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