IATA (International Air Transport Association) has published figures that show air passenger traffic rising 15.4% during the first four months of this year compared with 2003. Freight traffic climbed 11.3% in the same period. The jump was a staggering 36.3% in April, a clear indication of the effect of SARS virus and the Iraq war the previous April. There is however much concern in the industry. Director general Giovanni Bisignani warns that fuel prices were 55% higher than a year ago threatening airlines' profitability. "The current crisis resulting from sky-high fuel prices once again highlights the industry's vulnerability to external shocks," Bisignani said in a statement.
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