Only 0.45% of Latin Americans travel by air annually

31-10-23

IATA attributes this low figure to high tax rates and lack of competitiveness. Despite the post-pandemic recovery, airlines still project losses in the millions.

Although Latin America is the region of the world with the best levels of recovery of the airline industry with respect to the pre-pandemic period, the cash flow of the companies operating in this area of the world does not seem to be recovering at the same level.

The International Air Transport Association (IATA) projects that Latin American and Caribbean airlines will lose US$1.4 billion this year.

This means that they will lose around US$4.92 per passenger they carry and, according to IATA, the problem is that the high demand for travel has been counterbalanced by a volatile and difficult macroeconomic environment for companies, especially on this side of the world.