Brazil to be a target market for airline companies
May 31, 2012, 02:15 pm
The aviation intelligence brand OAG recently released its latest Aviation Market Reports.
OAG said in a previous report that U.S. carriers should look south for growth in their business, and the latest report explores how accessing gas reserves in South America is stimulating the GDP in Brazil. The middle class has become wealthier, improved their social expectations and have begun wanting to travel more. OAG predicts air travel to double in the next 10 years, making it a target for foreign airline markets.
"The exceptional growth of the low-cost carrier sector across Latin America and the Caribbean continues to capture everybody's attention," said Ron Weiland, vice presidents of OAG Americas. "As we saw in the early days of the U.S. market, the growing affluence of the middle classes creates a huge demand for air travel. The aviation market in Brazil represents a viable and sustainable investment opportunity for the long term to those who venture South."
A report by Locatory, an aviation inventory provider focused on emerging markets, estimates there to be 1,000 aircraft in Latin America. Locatory expects there to be 1,800 aircraft in Latin America in less than 10 years in a response to the 7.7 percent passenger increase each year.
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