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, the vast majority 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 2014-15, but overall charter passenger numbers have been on a downward slide.
IBISWorld expects industry revenue to contract at a compound annual rate of 1.5%... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Chartered Passenger Flights industry is in the decline stage of its life cycle. Industry value added, a measure of the industry's contribution to the economy, is expected to decrease at a compound annual rate of 4.4% over the 10 years through 2019-20. In contrast, UK GDP is forecast to grow at a compound annual rate of 2.1% over the same period. Industry revenue has fallen rapidly over recent years, as a result firms have cut costs by reducing industry employment and wage costs have contracted substantially. This has been the main driver of falling value added in the past five years and wage costs are forecast to continue to fall in the coming five years... purchase to read more