European airports say air passenger and cargo traffic is in freefall

Airports Council International Europe said Monday that the number of air passengers in January fell 10.7 per cent from a year ago, while freight traffic dropped by 23.6 per cent. The group monitors traffic at 101 airports in Europe.

Europe is faring worse than many other parts of the world. Monday’s figures are far worse than the global 6 per cent drop in passenger drop reported by the International Air Transport Association, or IATA.

IATA says air travel is slumping and airlines lost US$5 billion last year. Cutbacks seem likely as demand collapses.