Airline Passenger Miles Contract Slightly in February 2013
According to the Bureau of Transportation, system revenue passenger miles were 58.1 billion in February 2013. Despite the solid performance of airline passenger miles in January, February 2013 passenger miles contracted 0.2% compared to February 2012. This is the first month-over-month contraction since October 2012. However, it is the fourth month of contraction in the last eight months. Consequently, the annual rate of change has slowed to 0.6%, which is the slowest rate of growth since June 2010. With faster growth in real personal income, we should see faster growth in system passenger revenue miles soon. But, incomes may not be accelerating fast enough for this to happen. Also, the trend in system revenue passenger miles continues to point toward decelerating growth in aerospace industrial production. To see the trends in aerosapce, go here.
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