ICRA figures reflect continued passenger traffic growth and robust air cargo demand in 2017January 19, 2018: A new record 4.1 billion passengers were carried by the aviation industry on scheduled services in 2017, according to the preliminary figures released by the International Civil Aviation Organization (ICAO). The lower air fares owing to the low fuel price also continued to stimulate traffic growth, albeit at a more moderate level compared to 2016. In terms of domestic scheduled air services, overall markets grew by 7.0 percent in 2017, an improvement from the 6.7 percent growth recorded in 2016. Both regions were the world’s largest domestic markets with each accounting for around 41 percent share of world domestic scheduled traffic. Improving economic conditions forecasted by the World Bank could see traffic growth and profitability momentum continuing in 2018.

Source: The North Africa Journal January 19, 2018 12:33 UTC