IATA  (the  International  Air  Transport  Association)  recently  announced  global  traffic  results  for  
November  showing  a  softening  in  passenger  markets  while  air  cargo  markets  remained  weak.  
Passenger  traffic  was  4.3%  above  November  2010  but  0.5%  lower  than  October  2011  on  a   seasonally-­‐adjusted  basis.

Freight  markets  were  3.1%  below  November  2010, in  spite  of  a 1.1%  increase  compared  to   October  2011.

Weak  global  economic  performance  is  being  reflected  in  air  transport  markets.  Freight  markets   have  contracted  4%  compared  to  January.  Although  passenger  markets  have  shown  some   growth,  the  trend  has  been  both  soft  and  volatile.

Globally,  passenger  load  factors  have  fallen  sharply  to  76.3%  from  78.5%  in  October.  This  shows   that  the  weakness  in  passenger  demand  is  outpacing  airlines' ability  to  adjust  capacity   accordingly.  Regional  differences  are  sharp.  While  North  American  carriers  saw  a  0.8%  decline   in  travel,  carriers  in  the  Middle  East  experienced  a  10.1%  increase,  followed  by  9%  for  Latin   American  airlines.

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