The growing number of people from the developing world taking to air travel has injected resilience in the airline industry through a continued growth of global air traffic despite the sector being regularly subjected to unanticipated shocks from external factors, IATA has said.
The shocks experienced so far by the industry have ranged from the 9/11 terror strikes and shooting down of MH-17, to the past oil crises, volcanic eruptions and diseases like SARS.
Noting that the future growth of global air passenger traffic “will undoubtedly be subject to unanticipated shocks”, the study by the International Air Transport Association (IATA) says “in the past, global air passenger traffic has always seemed to bounce back strongly from short-term upheavals”.
The study has been released ahead of the IATA’s 71st annual general meeting and World Air Transport Summit here. It was 70 years ago that 57 airlines from 31 countries had joined to create IATA at a meeting in Havana, Cuba, just a few hundred miles across the ocean from Miami.
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