UPDATE 1-Slowing economies, sanctions hurting Europe air travel - IATA
* Global passenger demand up 5.3 pct in Sept vs 6.3 pct in Aug
* Europe growth 3.9 pct in Sept vs 7 pct in Aug
* Asia, U.S. underpinning profitability of industry
* Falling oil prices may signal difficulties ahead (Recasts, changes dateline to BERLIN from FRANKFURT, adds comments from IATA, European Commission forecasts)
BERLIN, Nov 4 (Reuters) - Weaker European economies and the ongoing Russian sanctions are affecting demand for air travel in the region, while the fall in oil prices will take time to be felt and may even signal difficulties ahead, a leading industry body said.
Global air traffic demand rose 5.3 percent in September, slowing down from a 6.3 percent rise recorded for August, the International Air Transport Association (IATA) said in its monthly passenger traffic statement.
"There are a lot of risks out there - growing weakness in key economies such as Europe and Brazil, the potential threat of Ebola to public confidence in flying, and the impact of political instability in various parts of the world," IATA Director General Tony Tyler said.
Lower jet fuel prices, which make up around one-third of the cost base of airlines, would take time to filter through due to hedging strategies, IATA said.
"And it could even be an indicator of difficulties ahead if the fall is driven by declining demand for oil rather than rising supply capacity," Tyler said. Continuación...