Latest statistics from International Air Transport Association (IATA) makes for an interesting reading. The figures show that air travel today is far cheaper than what it was 20 years ago. The average air ticket fare has fallen from US$458 in 1999 to $293, a drop of 64 percent in two decades.
The number of airline passengers in 2019 is expected to touch 4.5 billion and is expected to rise by 4 percent to 4.7 billion next year, while the average net profit per passenger, which currently is at $5.7 will rise to $6 in 2020. The performance of air cargo was a bit disappointing in 2019 with the 61.2 million tons recorded being the lowest in three years, nevertheless, the air transport sector as a whole is expected to record a profit of $25.9 billion this year.
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