Air transportation in Latin America - Statistics & Facts
The global air transportation industry is developing at a fast pace and Latin America is a region benefiting from this growth. In recent years, the aviation market in the Latin America has flourished due to the increase in travel and tourism, with sporting events like the Olympics or the football world cup providing an additional boost. In terms of passenger traffic, more than 185 million people traveled within the region in 2016 and the market is expected to see a six percent growth in the next 20 years. However, this increase brings the necessity of further investing in airport infrastructure. In 2016, almost ten percent of new airport projects worldwide were built in Latin America.
In terms of passenger capacity, the air carrier market in Latin America for domestic traffic is mainly dominated by South America’s largest low-cost airline, GOL, and the Chile-based airline group, LATAM, followed by Azul and Avianca. Handling more than 38 million passengers every year, GOL Linhas Aéreas Inteligentes (commonly known as GOL) is based in São Paulo, Brazil and has the third largest aircraft fleet in Latin America.
LATAM Airlines is one the largest airline groups in the world after the merger of LAN Airlines with TAM Airlines and its subsidiaries. With almost 514 million U.S. dollars in operating income, the airline transported close to 67 million passengers and handled cargo on almost 3.5 billion ton kilometers in 2016.
Avianca is the second oldest operating airline in the world and holds the highest domestic traffic market share in Colombia. In 2016, the airline transported around 29.5 million passengers worldwide and generated some 853 million U.S. dollars in operating revenue from its cargo operations.
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