Industry Analysis & Industry Trends
The Chartered Passenger Flights industry includes businesses that transport passengers by air on a non-scheduled basis. The industry is dominated by two major players, which are also involved in other areas of the travel industry, such as the provision of all-inclusive tours. Although the industry is perceived as providing tailored travel services for the wealthy, a large share of industry revenue is generated by transporting customers to their holiday destination as part of a package. Demand from the industry's major markets of tourists, corporations and governments has fluctuated significantly in the five years through 2013-14, but overall charter passenger numbers have been on a downward slide.
IBISWorld expects industry revenue to contract at a compound annual rate of 7.6%... purchase to read more
Industry Report - Industry Analysis Chapter
The global economic downturn shook the airline industries, with demand for air travel plummeting, especially for chartered services. During the recession, businesses cut travel expenses and consumers put off holidays due to rising unemployment and falling income. Similarly, the number of tourists coming into the United Kingdom declined as economic conditions in other countries also deteriorated. As a result, industry revenue is expected to decrease at a compound annual rate of 7.6% over the five years through 2013-14.
The largest declines came over 2009-10 and 2010-11. Passenger numbers on non-scheduled fell significantly in these two years and average UK household expenditure on air travel collapsed during this period... purchase to read more