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Air Transport Annual Report

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Photo: Vincent Tremeau/World Bank

11th edition of the World Bank Group (WBG) Air Transport Annual Report.

In 2015, the air transport industry has experienced one of its best years in history. Aided by lower oil prices, global demand for passenger travel grew by 6.7%, and the industry forecasts total net profits of $36.3 billion. Only air cargo, surprisingly, remained weak (at 1.9% growth), which points to sluggish development of global trade. However, there are significant regional differences in terms of growth.

The Asia-Pacific region continues to grow despite the slowdown of the Chinese economy. The performance of Latin American carriers remains weak given the deepening economic crisis in Brazil, weak commodity prices, and adverse currency fluctuations. The strongest headwinds were faced by airlines in Africa, which lost $300 million in 2015 due to political instability in North Africa, weak economic growth, and stiff competition from international markets.

The performance of Latin American carriers remains weak given the deepening economic crisis in Brazil, weak commodity prices, and adverse currency fluctuations. The strongest headwinds were faced by airlines in Africa, which lost $300 million in 2015 due to political instability in North Africa, weak economic growth, and stiff competition from international markets.

Recognizing the potential of air transportation to contribute to economic development and shared prosperity, the WBG continues to make much-needed, selective investments in the sector. As this report highlights, with an overall portfolio of US$1.47 billion, we remain actively engaged around the world on projects related to air transport policy and regulation, safety, infrastructure rehabilitation, institutional strengthening, and capacity building. Finally, supporting client countries in addressing the environmental challenges of aviation, has become a top priority for the WBG.

Download the Annual Report 2015 here







For more information contact:

Charles E. Schlumberger
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Shruti Vijayakumar
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