In line with our September forecasts, European flights increased by 4.8% in October 2017 compared to 2016. Owing to the recent trends of sustained growth of traffic in western Europe and a stronger than expected recovery of traffic in the Russian Federation, our seven-year forecast was updated to 4.5% more flights for Europe in 2017, up from 2.9% in the previous forecast. In addition, IATA's expected passenger numbers for 2036 also grew to 7.8 billion, nearly doubling their previous projection of 4 billion. The price of oil also increased, averaging €49 per barrel in October compared to €47 in September.
Learn more in this edition of the Industry Monitor.