Cheap oil drives airline growth, despite dip falling GDP
Despite declining growth rates for GDP around the world in 2017, the ICAO expects low air fares, driven by suppressed oil prices, to continue to spur increased demand for air transport this year. The organisation now expects global real GDP growth for 2017 to be around 2.4%—down from its earlier 2.9% projection. In preliminary figures for 2016 released Monday, ICAO reported that the total number of passengers carried on scheduled services last year reached 3.7b, which was 6% up on 2015. The number of departures in 2016 climbed to 35m globally and revenue passenger kilometres saw an increase of 6.3% (to 7.015t RPKs). RPK growth was down from the 7.1% increase achieved in 2015. All regions of the world, apart from Africa and the Middle East, posted slower RPK growth in 2016. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-01-03/general/cheap-oil-drives-airline-growth-despite-dip-falling-gdp
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Cheap oil drives airline growth, despite dip falling GDP
Despite declining growth rates for GDP around the world in 2017, the ICAO expects low air fares, driven by suppressed oil prices, to continue to spur increased demand for air transport this year. The organisation now expects global real GDP growth for 2017 to be around 2.4%—down from its earlier 2.9% projection. In preliminary figures for 2016 released Monday, ICAO reported that the total number of passengers carried on scheduled services last year reached 3.7b, which was 6% up on 2015. The number of departures in 2016 climbed to 35m globally and revenue passenger kilometres saw an increase of 6.3% (to 7.015t RPKs). RPK growth was down from the 7.1% increase achieved in 2015. All regions of the world, apart from Africa and the Middle East, posted slower RPK growth in 2016. <br/>
