GLOBAL AVIATION ECONOMIC REVIEW & OUTLOOK (CONTINUED)
12
107,133 FLIGHTS 6.4% (Y-O-Y)
8.26% INCREASE IN REVENUE GENERATING CAPACITY
Types of Aircraft in the FIR Wide Body 35% Narrow Body 36% Turboprop 14% Business Jet 07% All Freighter 08% Military 01%
Y-o-Y % change 01 01 90 06 12 11
Departing from Africa Caribbean Central America Europe North America South America
TOP 5 IN THE PIARCO FIR: Aircraft 1) B738 2) B763 3) ATR72 4) B772 5) A332
Users
(based on distance travelled)
American Airlines Caribbean Airlines TAM Linhas Aerea S.A. Delta Airlines Groupe Air France
operators seem to be using the Piarco FIR rather than the neighbouring Venezuelan airspace, especially on flights between North and South America as this is where the major increases have occurred.
and the past year realized 09% growth. With no foreseeable end to the Venezuelan crisis, the TTCAA expects that the number of flights within the airspace in 2020 will continue to exceed all previous forecasts.
This year there were 107,133 flights - 6.4% more than the previous year. This is the largest number of flights ever recorded to have transited the Piarco FIR during a fiscal year. This reflects the effect that the crisis in Venezuela has had on the Piarco FIR. The flights traversing the airspace that originate in North and South America have experienced growth rates over the past year that far exceed their 10-year averages. The 10-year average growth rate for flights originating in South America is 03% whereas the growth over the past year was 12%. For flights originating in North America, the 10-year average was 07%
Most macroeconomic indicators point towards growth, albeit slower growth, in the aviation sector in 2020. This growth however, is dependent on the abatement of global trade wars and other political tensions as well as economic recovery in some of the world’s most stressed economies. The aviation sector could be shocked by sudden changes to its present reality or worsening of these macroeconomic factors. The TTCAA must therefore continue to closely monitor such factors as these factors influence policy formulation and short-term planning.