The passenger traffic for LAN Airlines in Australia showed a general upward trend from 2013 to 2023, with a significant dip in 2020 due to external factors likely linked to the global pandemic. Actual volume in 2023 stood at 202.71 thousand persons, showing a 3.1% year-on-year increase from 2022. Over the last two years, passenger traffic has seen substantial growth, with a notable rebound after the 2020 decline. The Compound Annual Growth Rate (CAGR) over the past five years (2018-2023) was 3.46%, indicating a steady recovery and growth.
Looking ahead, the forecasted data from 2024 onward predicts continued growth, with the 5-year CAGR expected to be 2.38% and an overall growth rate of 12.47% by 2028. This suggests a stable upward trend in passenger traffic for LAN Airlines in Australia over the forecast period.
Future trends to watch for include:
• Potential impacts of global economic conditions on air travel demand.
• Changing consumer behaviors concerning air travel post-pandemic.
• Advancements in airline technology and service offerings that might influence market dynamics.
