Key Market Indicators
**Bulgarian Airline Revenue Projected to Grow Slightly by 2028** Bulgarian airline revenue is projected to reach approximately $553 million by 2028, a modest increase from around $550 million in 2023. This represents a compound annual growth rate (CAGR) of 0.4%. However, the Bulgarian market has experienced a decline of 1.1% year on year since 2013. In 2023, Bulgaria ranked 23rd in terms of airline revenue, with Latvia slightly ahead at $550 million. The top three countries in this ranking were Germany, Ireland, and Russia. **Decline in Bulgarian Air Passenger Traffic Expected** Meanwhile, Bulgarian air passenger traffic is expected to decrease to about 820,000 passengers by 2028, down from nearly 830,000 in 2023. This indicates an average annual decline of 0.2%. Since 1975, Bulgarian demand for air travel has fallen by 4.1% annually. In 2023, Bulgaria ranked 98th in air passenger traffic, with Slovenia surpassing it at approximately 830,000 passengers. The leading countries in this category were China, India, and Ireland.