Worldwide airline share prices fell three per cent in February as the price of crude oil rebounded from its January low of $50 per barrel to $60.
Traffic volumes fell in January, but that was within normal month-to-month volatility, said IATA, which delivered the report.
Growth in available seats still expanded at two to three per cent the annualised rate, although this growth was slower than before.
Passenger and freight loads also fell in January compared with December 2014.
However, Q4 financial results show continued gains in the US and “signs of a positive turn-around in Asia Pacific”, IATA said.