In the year of 2007 an estimated of 2.25 billion passengers traveled by airline flights all over the world. The year 2007 was considered as a best for the global aviation industry since year 2000. It was observed a essential collect by both passenger and cargo airlines in the year of 2007. However increasing jet fuel costs decreased the growth of cargo airlines.
It is estimated that the air passenger traffic for year 2008 would be 4,665 billion RPKs (Revenue Passenger Kilometers) worldwide and which is projected to depraved 5,603 billion RPKs by 2012.The US stands at number one situation in the opinion of largest market for passenger traffic with an estimated figure of 1,111 billion RPKs for 2008. Asia pacific is going to be fastest growing plot in the world with a growth rate of 7.2% through the period 2001-2010.
In the modern four years the world airline industry had suffered major losses. There might be many different reasons for these losses. The various original airlines have been launched which created a competitive atmosphere in the aviation industry of the world. This competition brought a sterling thing for the passengers in terms of facilities and the air fares. The air passenger had to expend a few money to relish their scurry as compare to the previous. The following were some of reasons which brought losses to aviation industry.
o Global Economic Slowdown.
o The war with Iraq for a long time.
o SARS infectivity.
o Hike in the heed of fuel obsolete in air crafts.
The year 2007 recorded a vital score in both passenger and cargo segments and considered as the best year so far from year 2000 in global airlines industry. Although the profit for various airline flights decreasing yet the number of passengers have increased. The competition of providing cheap airline flights may be considered as one of the factor for the increment in number of passengers.
