Key Market Indicators
**Bulgarian Airline Revenue to Climb to $553 Million by 2028** SOFIA—Bulgarian airline revenue is projected to rise to $553 million by 2028, up from $550 million in 2023, marking an average annual growth rate of 0.4%. However, the market has experienced a decline of 1.1% per year since 2013. In the global rankings for 2023, Bulgaria stood at number 23, with Latvia slightly ahead at $550 million. Germany, Ireland, and Russia secured the 2nd, 3rd, and 4th positions, respectively. **Air Passenger Traffic in Bulgaria to Decline Slightly** Meanwhile, Bulgarian air passenger traffic is expected to decrease slightly. By 2028, the number of passengers is forecasted to be 819,780, down from 829,700 in 2023, reflecting a compound annual growth rate (CAGR) of -0.2%. Since 1975, the demand has seen a yearly decline of 4.1%. In 2023, Bulgaria was ranked 98th, with Slovenia surpassing it with 829,700 passengers. China, India, and Ireland were positioned 2nd, 3rd, and 4th in the rankings, respectively. These trends highlight the ongoing challenges and competitive landscape faced by Bulgaria's aviation sector.
