A ir traffic growth rates peaked at over 38% in May 2004 compared to May last year — partly due to the distortion caused by the Iraq war and SARS. Overall, according to IATA, passenger traffic for the first five months was 8.8% higher than during the same period in 2000. However, the airline industry has not emerged from the crisis yet; on the contrary, it is bracing for further turbulence.
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