Source: CAPA Under Secretary for Political Affairs Victoria Nuland and Ecuadorian Minister of Foreign Affairs Juan Carlos Holguín signed an Open Skies Agreement between the two countries. Open Skies Air Transport agreements establish legal frameworks for international air transport to facilitate growth of an efficient, market-based international civil aviation system. This bilateral Open Skies Agreement enables the expansion of passenger and cargo flights between Ecuador and the United States, thereby promoting increased travel and trade, and ultimately spurring high quality job opportunities and economic growth. The two sides have been applying the terms of the agreement on the basis of comity and reciprocity since the negotiations concluded in December 2021. The agreement will enter into force upon a further exchange of diplomatic notes. [...]

Source: IATA The International Air Transport Association (IATA) announced that the recovery in air travel continued in October. Total traffic in October 2022 (measured in revenue passenger kilometers or RPKs) rose 44.6% compared to October 2021. Globally, traffic is now at 74.2% of October 2019 levels. Domestic traffic for October 2022 slipped 0.8% compared to the year-ago period as stringent COVID-related travel restrictions in China dampened global figures. Total October 2022 domestic traffic was at 77.9% of the October 2019 level. Domestic forward bookings remain at around 70% of pre-pandemic level. International traffic climbed 102.4% versus October 2021. October 2022 international RPKs reached 72.1% of October 2019 levels with all markets recording strong growth, led by Asia-Pacific. Forward bookings for international travel increased [...]

Source: IATA The International Air Transport Association (IATA) released data for October 2022 global air cargo markets showing that headwinds continue to affect air cargo demand. Global demand, measured in cargo tonne-kilometers (CTKs*), fell 13.6% compared to October 2021 (-13.5% for international operations). Capacity was 0.6% below October 2021. This was the first year-on-year contraction since April 2022, however, month-on-month capacity increased by 2.4% in preparation for the year-end peak season. International cargo capacity grew 2.4% compared to October 2021. Several factors in the operating environment should be noted: New export orders, a leading indicator of cargo demand, are shrinking in all markets except China and South Korea, which registered slightly higher new export orders in October. Latest global goods [...]