Since the COVID-19 pandemic, the airline industry has been under pressure due to travel restrictions, staffing shortages, and flight delays and cancellations. However, the industry has been rebounding with the resumption of leisure travel and the easing restrictions.
According to a recent study, in April global flight bookings for leisure travel soared 25% above pre-pandemic levels. Furthermore, international air travel is witnessing a solid recovery, with an approximate 60% growth rate, especially in the United States, Latin America, and Europe. The global airline market is projected to grow at a 12.7% CAGR to reach $744 billion by 2026.
