Dhaka: International air travel has registered a growth of 6% during the year 2016. According to the International Civil Aviation Organization (ICAO), a large number of people have traveled with airlines last year, and the growth was mainly attributed to budget airlines..
ICAO is a specialized agency of the United Nation that oversee the international civil aviation standards.
The agency said in an official statement that there were nearly 3.7 billion people who had taken a scheduled flight in the year 2016. This was a figure that was 6% better as compared to 2015.
The revenue passenger kilometers or RPKs that is used to calculate the passengers who bought airline ticket relative to the distance that they travelled, hit the mark of 7,015 billion RPKs. The figure marked a 6.3% rise from 2015, but it was slower than the 7.1% growth that had been recorded in 2014.
In 2016, the airline industry had witnessed a profit of $60 billion that was an increase from $58 billion the previous year. ICAO also added that the industry-wide operating margin was quite stable at 8%. For a consecutive year, over one-third of the profits are believed to come from the carriers of North America.
Also, the low-cost carriers, known as budget airlines have been widening their reach all across the world.
According to ICAO low-cost carriers served about a billion passengers representing 28% of the world’s total passenger traffic.