Key Market Indicators
Estonian Airline Revenue is projected to reach nearly $392 million by 2028, up from approximately $331 million in 2023. This marks an annual growth rate of 2.3%. The Estonian market has shown impressive growth since 2013, with a year-on-year increase of 10.2%. In 2023, Estonia was ranked 24th globally in airline revenue. Bulgaria narrowly surpassed Estonia with similar revenue figures. Germany, Ireland, and Russia occupied the second, third, and fourth spots respectively. However, Estonian air passenger traffic witnessed a dramatic decline. In 2019, the number of air passengers fell to just under 900 from nearly 63,000 in 2018, a staggering drop of 98.6%. Since 1997, the demand for air travel in Estonia has decreased by 73.1% annually.
