Cheap Oil Drives Airline Growth, Despite Falling GDP | Aviation International News

Cheap Oil Drives Airline Growth, Despite Falling GDP

ICAO published preliminary air transport market statistics for 2016.

Airlines across the world recorded slower growth rates for revenue passenger kilometers last year. [Photo: London Heathrow Airport]

By Charles Alcock • Managing Editor

January 2, 2017

Despite declining growth rates for gross domestic product (GDP) around the world in 2017, the International Civil Aviation Organization expects low air fares, driven by suppressed oil prices, to continue to spur increased demand for air transport this year. The organization now expects global real GDP growth for 2017 to be around 2.4 percent—down from its earlier 2.9 percent projection.

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