Passenger

* Load factor up to 79.7% (+0.8 points) with traffic decline (-4.6%) more limited than reduction in capacity (-5.5%)
* Further recovery in unit revenue

Cargo

* Strong improvement in load factor to 70.1% (+8.4 points)
* Unit revenue almost at last year’s level

Passenger business
December’s decline in traffic (-4.6%) was more limited than the reduction in capacity (-5.5%). The load factor therefore gained 0.8 points to 79.7%. The group carried 5.5 million passengers (-5.1%).

While remaining below last year’s levels, unit revenues continued their recovery thanks to a more marked improvement in long-haul premium traffic.

* On the Americas network, the decline in traffic (-5.2%) was less than the reduction in capacity (-7.9%) leading to a 2.5 point increase in load factor to 86.5%. Load factors improved in both North America and Latin America.
* The Asia network recorded a decline in traffic of 4.1%, with capacity down 5.2%. The load factor increased by 1.0 point to 83.2%, confirming the gradual recovery in demand on this network.
* On the Africa and Middle East network, traffic fell 2.3% in line with the capacity reduction. The load factor was stable at 80.0%.
* The Caribbean and Indian Ocean network recorded a 3.7% drop in traffic with a capacity increase of 1.1%. As a result the load factor declined by 3.9 points to 77.8%.
* On the European network capacity was reduced by 8.3% on the back of adverse weather conditions and network restructuring. Traffic declined by only 6.4% and the load factor improved by 1.3 points to 67.3%.

Cargo business
The cargo business saw a marked, 8.4 point improvement in its load factor to 70.1%. Traffic was down by 8.5% while capacity was reduced by 19.4%. In particular, the Asia network recorded an improvement of 17.4 points in its load factor to 80.1%. Re-stocking was partly responsible for a very strong recovery to 93.9% in the load factor of return flights from Asia.

Unit revenues continued their improvement, almost returning to last year’s levels (which were already impacted by the crisis and the drop in fuel surcharges).

*Both traffic and capacity data for December 2008 are proforma, including Martinair