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Presentation - Euler Hermes

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Air transport<br />

A clear contrast between the rise in passenger traffic and the<br />

slump in cargo traffic in 2012<br />

Worldwide passenger (international and domestic) and cargo traffic<br />

Index base 100 = 2007<br />

Indice base 10 = 207<br />

130<br />

125<br />

120<br />

115<br />

110<br />

105<br />

100<br />

95<br />

90<br />

85<br />

80<br />

(e): estimates / (p): forecasts<br />

Sources: IATA, <strong>Euler</strong> <strong>Hermes</strong><br />

Aerospace industry - Air transport / Sector surveys<br />

© Copyright <strong>Euler</strong> <strong>Hermes</strong> 13-12-2012<br />

+6.4%<br />

+6.4%<br />

+4.4% +4.4%<br />

-1.9%<br />

-1.9%<br />

2007 2008 2009 2010 2011 2012 (es) 2013 (p)<br />

International (passengers) Domestic (passengers) Freight<br />

� In 2012, the economic<br />

slowdown in Europe<br />

impacted two major cargo<br />

routes: Europe – Far East<br />

and North Atlantic<br />

� In 2013, the uncertainty in<br />

Europe will affect global<br />

passenger traffic growth<br />

� In 2013, cargo traffic will<br />

benefit from the recovery in<br />

international trade<br />

The gap between passenger traffic (a drop in growth to 4.5%) and cargo traffic<br />

(stabilization after two years of erosion) to be bridged in 2013<br />

11

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