Worldwide airline share prices rose 5% in May compared to April, attributable mostly to US airlines performance, said IATA. Q1 financial results showed strong gains in US airlines’ performance, but weakness in Asia Pacific, partly linked to Chinese carriers and the depreciating Yuan.

Jet fuel prices are trending sideways and remain high at around USD 120/bbl, supported by expectations of disruptions to crude oil supplies.

US passenger yields declined in Q1, likely hampered by temporary weather-related slowdown, and weakness continues in other regions.

''Growth in air travel picked up in April, but air freight demand continues to moderate, in line with weakening world trade growth so far this year. Expansion in available seats picked up in April with new deliveries as well as aircraft coming out of storage. Growth in seats remains strong, but the pick-up in passenger demand in April should help restrict any downward pressure on aircraft utilization rates, it said.

Passenger loads improved slightly on the back of rising demand, but air freight load factors have made little progress in 2014 overall, it added.