BAKU, Azerbaijan, May 13. Azerbaijan's aviation market is expected to grow by 40 percent in the next decade, Senior Economist at the International Air Transport Association (IATA) Maja Marciniak said during the Aviation Energy Forum of the International Air Transport Association (IATA) in Baku, Trend reports.
"I would like to emphasize once again how rapidly the Azerbaijani aviation market is developing. It has not only outpaced global rates but also outpaced the growth rates of Eastern European countries over the past decade. Looking ahead, we forecast another 40 percent growth over the next decade. This is about the number of passengers flying out of Azerbaijan. We are seeing high dynamics both in terms of inbound and outbound travelers," she added.
Marciniak pointed out that a hefty slice of this growth is turned into a goldmine for airlines.
"We are, of course, talking about the revenue of the air carriers themselves - from cargo transportation, passenger flights, and tourist services," she added.
Founded in Cuba in 1945, IATA serves as the principal mechanism for inter-airline collaboration in advancing safe, dependable, secure, and cost-effective air services for the benefit of global consumers. Championing the interests of airlines worldwide, it contests unjust regulations and fees, holds regulators and governments accountable, and endeavors for rational regulation. For more than 70 years, IATA has established worldwide commercial standards that underpin the air transport industry. It enables airlines to function safely, securely, efficiently, and affordably under well-defined regulations. Comprehensive assistance is offered to all industry stakeholders through an extensive array of goods and specialized services.
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