1、 Quarterly Air Transport Chartbook IATA Economics Q3 2022 2 Quarterly Chartbook Q3 2022 Table of Content Table of Content.2 Glossary.3 I.The business cycle.4 II.Passenger and Cargo traffic.6 Passenger Traffic.6 Cargo traffic.10 III.Airline Financial Performance.14 Revenue.14 Cost.15 Industry financi

2、al results.16 IV.Regional Outlook.19 Africa and the Middle East.19 Americas.21 Asia Pacific.23 Europe.25 3 Quarterly Chartbook Q3 2022 Glossary ACTKs Available Cargo Tonne-Kilometers ASKs Available Seat-Kilometers ASPAC Asia Pacific ATKs Available Tonne-Kilometers BLF Breakeven Load Factor CLF Cargo

3、 Load Factor CTKs Cargo Tonne-Kilometers FRT Freight Tonnes GDP Gross Domestic Product LF Load Factor OPEC Organization of the Petroleum Exporting Countries Passenger Traffic O-D Passenger Traffic Origin-destination PAX Revenue Passengers PLF Passenger Load Factor RPKs Revenue Passenger-Kilometers R

4、TKs Revenue Tonne-Kilometers SA Seasonally adjusted USD United States Dollar WLF Weight Load Factor YoY year-on-year 4 Quarterly Chartbook Q3 2022 I.The business cycle Recession fears have risen sharply in recent months as central banks around the world have lifted policy interest rates in rapid suc

5、cession.The US federal funds rate(upper limit)now stands at 3.25%and is expected to reach and possibly surpass 4%by the end of the year and further increases are likely in 2023.With August consumer price inflation in the US at 8.3%,real interest rates are still negative and policy therefore remains

6、accommodative,which should allay some recession fears(Chart 3).The low and still falling unemployment rates that many countries are benefitting from should also mitigate recessionary impacts.Qatar has one of the worlds lowest rates at 0.2%as per the first quarter of 2022,the European Union has the l