Top airline executives and trade group leaders here are pessimistic: A tepid market still hampers European carriers' near-term outlook, while signs of recovery beckon cruelly like a mirage. As the year-end draws closer, predictions for a mediocre 2003 are starting to emerge as doubts mount regarding an upturn in 2004. January-September statistics covering the 31-member Assn. of European Airlines (AEA) show that traffic increased only 1.9% (and no more than 1.4% for freight); average seat load factor dropped slightly to 76.9%. Late last week, however, the AEA released numbers covering the first full week of November and showing "a growth trend 'too late' to produce good year-end figures." The positive traffic level for the whole year is unlikely to exceed +0.5%, according to AEA economists.
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