26 October 2018 Current Affairs:
Global aviation body International Air Transport Association (IATA) said that India will be the third largest aviation market globally a year sooner than was earlier predicted. It is now expected to be among the top three countries by 2024. India currently holds the seventh position.
In its latest 20-year forecast for the aviation industry, IATA said that air passenger numbers worldwide could double to 8.2 billion in 2037. IATA added that the other south-east Asian countries predicted to grow rapidly include Indonesia, likely to be the fourth largest by 2030 from its current ranking of the 10th largest aviation market. Thailand, too, is expected to enter the top 10 markets in 2030.
International Air Transport Association (IATA):
♦ Founded: 19 April 1945
♦ Headquarters: Canada
♦ DG and CEO: Alexandre de Juniac
♦ IATA is a trade association of the world’s airlines.
♦ It consists of 290 airlines, primarily major carriers, representing 117 countries, the IATA's member airlines account for carrying approximately 82% of total Available Seat Miles air traffic