Air Transport: Current Topics in Latin America and the Caribbean: Regulation and Economics
The aviation sector is growing rapidly in Latin America and the Caribbean (LAC) and is expected to continue growing in the future. Several countries in the region had growth rates in passenger volumes of 20% and 30% per year (2012 Fitch Ratings). Projections suggest that the region will grow at an annual rate of 6% over the next 20 years. This dynamic is putting pressure on existing aviation infrastructure, demanding higher capacity and better performance. This combined with the liberalization of the market and the consolidation of airlines are the main drivers for improvements in regulatory frameworks in force. This booklet will give a brief overview of the main areas that influence the air transport regulatory framework and its role in the governance and oversight of airlines and airports.