Passenger Miles Climb 6.4% in December
According to the Bureau of Transportation, system revenue passenger miles were 70.9 billion in December 2013. This was an increase of 6.4% compared to December 2012. This is the fastest rate of month-over-month growth in system revenue passenger miles since November 2010. And, it is the fourth fastest rate of growth in nearly a decade. The annual rate of change, up to 1.8%, has grown at an accelerating rate since April 2013. It is growing at its fastest rate since March 2012. The annual rate of change will continue to accelerate for at least the next couple of months. Real disposable income, a good leading indicator for passenger miles, has been relatively flat in recent months. The rate of growth in disposable income needs to accelerate for the current trend in passenger miles to sustainable longer term. However, the current trend in passenger miles is an indication that aerosapce production should grow faster very soon. You can find all of our aerosapce data here.
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