21 May 2010 22:00 [Source: ICIS news]
HOUSTON (ICIS news)--US commercial airline travel grew in April by 0.5% year over year, boosting passenger revenue by 12.5% as the sector builds strength, an airline trade group said on Friday.
"The April jump in passenger revenue is a positive sign, and one showing that the US industry is recovering gradually from last year's severely depressed levels," James May, president and CEO of Air Transport Association (ATA), said in statement.
The 0.5% increase in passenger volumes in the US came as the average price to fly jumped 14%, the ATA reported.
Higher year-over-year passenger levels in April marked the fourth-straight month of positive figures, the ATA said.
The rising revenue came during the month of peak prices for jet fuel this year. Prices got into the 230s cents/gal in the both New York Harbor (NYH) and US Gulf (USG) regions, as crude oil remained in the low-to-mid-$80s/bbl.
Jet fuel was valued at 196.50-196.75 cents/gal NYH on 20 May. USG jet fuel was priced at 192.50-192.75 cents/gal, according to data from global chemical market intelligence service ICIS pricing.
Cargo traffic followed in the upward trend, buoyed by a pickup in international trade. March cargo flights were up 22% compared with the same month in 2009. March was the most up-to-date month of data the ATA provided.
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