Growing air traffic in India, China and Latin America has led to a rebound in the global aviation market which grew by 16.5 per cent in April, despite the high oil prices, the Iceland volcanic eruption and Japan tsunami that hit air travel.
Over the last five years, Indian domestic market expansion has been the "strongest with a tripling in size", a latest report of the International Air Transport Association (IATA) said here.
In spite of such "significant" growth in demand, the profits of the airline industry were being squeezed by a series of crises and shocks that have marked the first four months of this year, it said.
"Their impact on demand will continue to ease as we move into the second half (of this year)," IATA chief Giovanni Bisignani said here.
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