In the year 2007, an estimated 2.25 billion passengers traveled by airline flights around the world. The year 2007 was regarded as the best for the global aerospace industry since 2000. It was observed that a significant increase in both passenger and cargo airlines in 2007. Increasing gasoline fell for the growth of the cargo airlines.
It is estimated that passenger traffic would be for the year 2008 4.665 billion RPK (Revenue PassengerKilometers) around the world and projected to 5603 billion PKT by 2012.The United States is at number one position in the view, the biggest market for passenger cross with an estimated number of 1,111 billion RPK in 2008. Asia-Pacific is the fastest growing region in the world with a growth rate of 7.2% over the period 2001-2010.
In the last four years, the world airline industry has suffered huge losses. There may be many different reasons for these losses. TheSeveral new airlines have been launched, the atmosphere at a competitive disadvantage in the aviation industry in the world created. The competition brought about a good thing for passengers in terms of facilities and air fares. The passenger had a little spending money to enjoy their journey as compared to the previous. When votes are some of the reasons the airline industry losses were taken.
o Global Economic Slowdown.
o The war with Iraq for a long time.
o SARSInfectivity.
o hike in oil prices in the air craft used.
The year 2007 recorded a significant gain in passenger and cargo segments and as the best year so far drawn from the year 2000 in the global airline industry into consideration. Although the profits have increased for several airlines flights to the decreasing number of passengers. The competition for providing cheap flights can be considered as a factor for the increase in the number of passengers.
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