Source: Reuters Author: James Regan 06/25/2008
Subject Concerned: Opinion Airlines Cargo Aviation Fuel Airport
The chief executive of airport operator Fraport said on June 25 that there was no indication in the air travel and air cargo industry to suggest a global economic slump was looming.
Wilhelm Bender also said he remained optimistic about growth despite the potential impact of inflation on consumers' ability to pay for trips.
"The trend in air transport is not signalling a downturn in the world economy. We are growing," Bender told Reuters on the sidelines of an event to mark construction of the Lufthansa Cargo service centre at Frankfurt airport.
The oil price was the biggest worry for the air travel industry, but there was growth in both passenger travel and air freight transport, Bender said.
"I have a fundamental optimism when it comes to further development, but I am seeing the clouds of energy prices," he added.
Inflation was an issue in the private travel segment -- such as holidays and low-cost air travel -- given rising household energy costs for transport, electricity and heating.
But this did not mean air travel was endangered, Bender said.
Lufthansa Cargo Carsten Spohr said on the sidelines of the same event current talk about the loss of spending power was "still a bit of hype".
"The global economy as a whole is showing that the purchasing power of people worldwide is increasing," Carsten said.
Spohr said Lufthansa Cargo had aimed to grow at least as fast as the worldwide market in terms of tonnage transported this year, estimated at 5-6 percent, but the high oil price meant growth would be 4.5-5 percent instead of 6 percent.
Fraport is targeting 1-2 percent traffic growth at Frankfurt airport -- Europe's third-largest and Fraport's biggest hub -- this year, although finance chief Matthias Zieschang told Reuters earlier this month it may beat this target.