Ottawa, September 24, 2015- The Conference Board of Canada released today its Canada’s Air Transportation Industry report.
Highlights
· Weak employment growth, high household debt levels, and little improvement in consumer confidence, is not discouraging Canadians from spending on air travel. In particular, traffic growth is being supported by the lower dollar and the addition of new routes and increased frequencies of existing connections by Canadian airlines.
· The lower dollar is reducing the incentive for Canadians to drive across the border and fly out of U.S. airports, and it is encouraging more international travelers to visit Canada.
Increased competition and strong capacity growth is forcing Canadian airlines to lower airfares and pass on part of their cost savings from lower aircraft fuel prices to consumers.
· The sharp fall in oil prices has pushed the industry’s pre-tax profits to new highs. Industry pre-tax profits are expected to surpass the $1 billion mark in 2015. However, the impact of the plunge in oil prices is expected to be temporary.
Attached is a copy of our Canada’s Air Transportation Industry report. Please note this report is for your personal use only and must not be shared with the general public. Thank you for your understanding.
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