(Bloomberg) --
Air-travel passenger demand has more than doubled this century and topped 4 billion in 2018. Behind the traffic: the rise of low-cost carriers in Europe and the U.S., as well as increasing wealth in Asia and Latin America. Fuel consumption by airlines has jumped, too, and now accounts for more than 7% of the global total, according to a BloombergNEF report. The International Civil Aviation Organization forecasts another doubling of passengers in the next two decades.
To contact the reporter on this story: Richard Stubbe in Houston at rstubbe1@bloomberg.net
To contact the editor responsible for this story: Nancy Moran at nmoran@bloomberg.net
©2020 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
