Air Arabia announced today that the city of Multan in Pakistan will join its route network next month, bringing the total number of destinations in the country served by the region’s first and largest low-cost carrier to six.

Located on the banks of the Chenab River, Multan is home to more than three million people and is Pakistan’s fifth largest city. It is an important cultural and commercial centre with a strong economy largely based on industry and agriculture.

Multan joins Karachi, Peshawar, Sialkot, Lahor and Islamabad as Pakistani cities served by regular direct Air Arabia flights from Sharjah and Ras Al Khaimah International Airports.

Adel A. Ali, Group Chief Executive Officer of Air Arabia, said: “With a population of more than 180 million and within just a few hours flight time from the UAE, Pakistan has always been a promising market for Air Arabia. We have established a comprehensive network of destinations spanning the country and brought Air Arabia’s value for money proposition within easy reach of millions of people flying between the UAE and Pakistan. We look forward to further investing in increasing our reach in Pakistan by offering more destinations and flights in the near future.”

Starting May 1, 2015, Air Arabia will operate services to Multan on Sundays, Mondays, Wednesdays and Fridays. Flights will depart Sharjah International Airport at 04:45 and land in Pakistan at 08:20. Return flights will operate on the same days, leaving Multan International Airport at 09:00 before arriving in Sharjah at 10:50. Local Time.

2015 has witnessed a number of significant additions to the Air Arabia network. In January, it was the first low-cost airline from the Middle East and Africa to enter the Chinese market with the launch of services to Urumqi, the largest city in Western China. The carrier also added Isfahan and Sanandaj in Iran and Gizan in Saudi Arabia in the first quarter of the year, as well increased the frequency of services on a number of existing routes.

http://www.airarabia.com/en/multan-joins-air-arabia%E2%80%99s-expan...

The government sold its entire stake in the country’s largest private-sector bank for $1.02 billion Saturday, the biggest so far in a series of divestitures planned to help revive Pakistan’s economy.

The government approved a strike price of 168 Pakistani rupees, about $1.68, per share, for its 41.5% stake, or 609 million shares, in Habib Bank Ltd. on Saturday, compared with the floor price of 166 rupees, or $1.66, set at the start of book-building, which began Tuesday.

Pakistan’s privatization minister Mohammad Zubair said the stake was “heavily oversubscribed,” with offers worth $1.6 billion for 955 million shares, of which $1.2 billion was offered by foreign investors.

“This is by far the largest in Pakistan’s history, the demand that we got,” Mr. Zubair said. “It’s also the largest for any Asian frontier market country.”

Of the $1.02 billion raised, the finance ministry said $764 million was foreign investment.

“The bulk of this money, $764 million dollars [from international investors], will boost foreign exchange reserves, which will stabilize the currency further, which in turn will have a positive impact on inflation,” Mr. Zubair said.

Pakistan had $16.7 billion in total liquid foreign exchange reserves as of April 3, according to the central bank.

Prime Minister Nawaz Sharif’s government has made privatization and divestitures from as many as 31 state enterprises major components of its plan to boost Pakistan’s economy, especially its foreign exchange reserves. Mr. Sharif’s government has already sold shares in United Bank, Allied Bank and energy company Pakistan Petroleum Ltd. A plan to sell a portion of the government’s stake in the Oil and Gas Development Co. Ltd., the country’s largest oil and gas business, for $800 million was abandoned in November because of poor investor demand.

The sale of the government’s Habib Bank stake is Pakistan’s largest capital market transaction in a decade, officials said. The government is currently working on the privatization of Pakistan International Airlines, Pakistan Steel Mills and several power distribution companies, finance ministry and privatization commission officials said.

Brokers and analysts said interest in the Habib Bank shares was boosted by strong participation by foreign investors.

“The response was far better than earlier expected. Nobody expected that it could cross a billion dollars,” said Mohammed Sohail, chief executive of Topline Securities, a brokerage based in Karachi, Pakistan. “Investors globally are looking at Pakistan positively, especially because of the gradual economic recovery over the last two years.”

Habib Bank has Pakistan’s largest deposit base and the most extensive network of branches. It has operations in 29 countries, according to the bank’s website. The Aga Khan Fund for Economic Development bought a 51% stake in the bank when it was privatized in 2004.

http://www.wsj.com/articles/pakistan-gets-1-02-billion-for-habib-ba...

UAE’s budget carrier Air Arabia has added Pakistani city of Quetta to its list of destinations, making it the Sharjah-based carrier’s seventh destination in Pakistan.

“We now have seven of Pakistan's biggest cities covered with direct services from two airports in the UAE and we hope to add more in the future as part of our ongoing commitment to serve the country,” said Adel A. Ali, Group CEO of Air Arabia.

Quetta services will commence on Wednesday, June 17, 2015.

Quetta joins Karachi, Peshawar, Sialkot, Lahore, Islamabad and Multan as Pakistani cities served by direct Air Arabia flights from Sharjah and Ras Al Khaimah airports.

On May 21, another UAE carrier, Flydubai, announced direct flights to Quetta in Pakistan from June 11, 2015, with three flights a week.

http://www.emirates247.com/business/corporate/air-arabia-expands-pa...

The UAE has updated air service agreement with Pakistan allowing open skies approach on new points in Pakistan including Quetta, Turbat, Gwadar, Panjgur as well as increased passenger capacity to Karachi, Faisalabad, Multan and Sialkot.

The two-day negotiations between both parties resulted in signing an updated air service agreement between Pakistan and the UAE. Saif Mohammed Al Suwaidi, director-general, General Civil Aviation Authority (GCAA), signed the agreement on behalf of UAE while Amjad Ali Toor, additional secretary for aviation division, signed on behalf of Pakistan. The signing ceremony was also attended by UAE ambassador to Pakistan Isa Basha Al Noaimi, Khaleej Times reported. Al Suwaidi stressed the importance of this updated agreement which will contribute to boost trade, tourism and investment between UAE and Pakistan.

During his visit, Al Suwaidi toured the new airport in Islamabad which will be inaugurated in the second half on 2016 with a capacity to handle 50 million passengers.

Ms Laila Ali bin Hareb Al Muhairi, assistant of director-general of strategy and international affair at GCAA, said that UAE ranks second internationally in term of open skies agreements.

“UAE is driven more than ever to continue its international collaboration in air transport and shall continue its far-reaching and sound advances toward opening and liberating skies with countries of the world,” she added. 

http://www.dailytimes.com.pk/national/05-Jun-2015/uae-updates-air-s...

#UAE's Air Arabia set to expand flights to #Pakistan. New flights to #Quetta, #Faisalabad added. http://www.arabianbusiness.com/uae-s-air-arabia-set-expand-flights-...

UAE-based Air Arabia has named Faisalabad as the latest city to join its rapidly growing Pakistan route network.
When flights to the country's third largest city start in October, Faisalabad will join Islamabad, Karachi, Lahore, Multan, Peshawar, Quetta and Sialkot as Pakistani cities served from the UAE by the low-cost carrier.
Faisalabad is a city of more than two million people located in the province of Punjab. A major centre of industry and manufacturing, the city is estimated to contribute approximately one fifth of Pakistan's total GDP.
"Air Arabia has a long-standing commitment to serve the Pakistan market and we are proud to operate an exceptionally comprehensive route network covering the length and breadth of the country," said Adel A Ali, Group CEO of Air Arabia.

Having secured additional rights of operations from the Pakistani government, Dubai-based international airline, Emirates, is all set to deprive the domestic carriers, including Pakistan International Airlines, Shaheen Airlines and Air Blue, of their share in the industry.

Emirates, which started its operations in March 1985 after getting two planes from Pakistan International Airlines (PIA), now operates in 78 countries with 3,300 flights per week.

Recently, the Civil Aviation Authority (CAA) has given it additional rights to operate in Quetta, Panjgur, Turbat and Gwadar, diverting the local passengers from the national carriers to Emirates for direct flights to Dubai and other countries of the world.

“This is a big loss to the Pakistani airlines including Shaheen and PIA as the passengers of these cities were using services of national carriers. Three American airlines are fighting against Emirates’ operations in USA, but the Pakistani government was giving more and more rights to Emirates. This is not fair,” said a PIA official.

“On the other hand, the government has been trying to privatise PIA for the last several years. Is the government trying to sell off the country to foreigners or what? How are the domestic stakeholders supposed to flourish if the government keeps on facilitating international companies?” he questioned.

According to CAA, on June 5, 2015, Bilateral Air Services Agreement talks between Pakistan and United Arab Emirates were held in Islamabad. The talks were held in a friendly and cordial atmosphere regarding all outstanding issues.

Landmark changes in the new agreement include opening up four airports of Balochistan; Quetta, Panjgur, Turbat, and Gwadar, to five airlines of UAE for unlimited operations, a CAA official said, adding that this will facilitate the citizens of these districts to fly abroad directly from their hometowns.

However, the CAA official said that traffic rights to the airlines of UAE for Lahore, Islamabad and Peshawar have been frozen at the current level for the time being due to infrastructural constraints at these airports. For Karachi, the open skies arrangements between Dubai and Karachi concluded in 1998 remains intact.

“Pakistani airlines, on the other hand, will enjoy unlimited traffic rights from all airports of Pakistan to all airports of UAE. Our airlines would also be free to operate beyond UAE to any other country of the world,” he added.

“The additional services to Karachi and the introduction of Multan to our network will position Pakistan as Emirates’ fourth most highly served country worldwide with 80 return flights a week operating between Dubai and Pakistan,” said West Asia and Indian Ocean Commercial Operations Senior Vice President Ahmed Khoory.

Moreover, the three big US airlines – Delta Air Lines, United Continental Holdings and American Airlines Group – alleged that Emirates, Etihad, and Qatar airlines received more than $42 billion in “unfair subsidies” from the Gulf government. As a result, the Gulf carriers are able to take the US airlines’ market by offering cheap flight fares, which does not make economic sense.

However, the three Gulf airlines completely denied all the allegations. The US airlines also requested the United States government to review the Open Skies agreement, through which Gulf carriers operate in US.

Emirates President Tim Clark told reports on the sidelines of an International Air Transport Authority (IATA) meeting that the airline will submit a detailed report to the US government in response to US airlines’ accusation that it was one of the carriers receiving unfair subsidies from the Gulf government. Earlier last week, Etihad also submitted a 60-page report to the US government to counter the US airlines’ allegation.

http://www.pakistantoday.com.pk/2015/06/15/business/emirates-eating...

#PIA starts A320 jet flights to #SKARDU in beautiful Gilgit-Baltistan #Pakistan http://www.dawn.com/news/1189453

In an attempt to promote tourism in country's scenic northern region, the Pakistan International Airlines (PIA) has included an A320 plane on its route to Skardu, the central valley of Gilgit-Baltistan region, said a press release issued by the airlines.

The A320 jet departed for its inaugural flight to Skardu from Islamabad airport.

"The flight carrying over 100 passengers departed from Islamabad and landed at Skardu Airport", the press release said.

The plane carried PIA's retro livery from the 1960s, a part of its 60th anniversary celebrations this year.

Previously smaller aircraft such as Fokkers, ATRs and B737s linked Islamabad with Skardu.

A ceremony was held at Skardu airport which was attended by Skardu residents to welcome the new A320 service.

According to the press release, the A320 has a much larger seating capacity and would cater to the needs of not only local population but also of tourists.

The scenic natural beauty and views of some of the world’s highest peaks attract many tourists to Skardu.

Special Assistant to Prime Minister on Aviation Shujaat Azeem, who was also among the passengers, remarked, "This will further facilitate tourism and economic improvement of the region towards realising the vision of the present government."

He said PIA will now operate daily flights between Skardu and Islamabad connecting the northern areas with the major cities of Pakistan

After building privately-funded airport, #Sialkot exporters to launch privately-funded airline #Pakistan http://www.dawn.com/news/1198704

Local exporters have decided to launch a private airline with the collaboration of the Sialkot International Airport Limited (SIAL).

Sialkot Chamber of Commerce and Industry (SCCI) President Fazal Jilani told newsmen here on Wednesday that the airline – Sialkot International Airline – would be formally launched within the next two weeks.

He said it would be another mega project by the local businessmen after the establishment of the airport.

http://www.dawn.com/news/1198704

State-owned airline Pakistan International Airlines’ (PIA) privatization plans have been postponed until mid-2016, following what the government described as “legal obstacles in finalizing the transaction structure.”

In 2014, the Pakistan government agreed to a sell off parts of various strategic state-owned assets, including power corporations and steelmakers as well as PIA. The move to divest corporations was a condition of a $6.7 billion loan deal with the International Monetary Fund made in 2013.

Pakistan Minister of State for Privatization Mohammad Zubair said at the time of the agreement that the sale of PIA would commence in mid-2015. “The process is absolutely on and financial advisers are performing their job, [working on] the Pakistan International Airlines (PIA) sale,” he said.

In 2014, Pakistan’s Prime Minister Nawaz Sharif gave approval for the airline to take five new Boeing 777 aircraft, in addition to an agreement for 13 leased Airbus A320s, of which the fifth was delivered in June 2015.

“With newer versions of fuel-efficient aircraft, the employees will have to put in extra efforts for turning around the corporation [prior to sale],” PIA managing director Shahnawaz Rehman said.

But government intervention and factional delays have pushed the timeline back twice already, with the original deal for a restructuring prior to a 26% IPO sell-off still subject to internal opposition and political wrangling.

In the meantime, the airline is posting continuing losses—in the first quarter, it lost PKR2.1 billion ($206 million) taking its total losses to date to $2.1 billion.

http://atwonline.com/government-affairs/pakistan-international-airl...

Gerry’s Dnata, the largest ground handler in Pakistan, has ramped up its scale of operations in Pakistan with the commencement of its service at three new airports in Pakistan investing over $4 million.

Gerry’s Dnata is a joint venture between Dubai’s Dnata and Gerry’s group in Pakistan.

To support the growth of the aviation industry across Pakistan, Gerry’s Dnata has launched services at Multan International airport (MUX) on May 1, Quetta International (UET) on June 11 and Faisalabad International (LYP) on July 11 this year.

Across the country, Gerry’s Dnata expects to increase its staff count by 140 to accommodate the new services at these locations creating local job opportunities for Pakistanis.

“We have been supporting the aviation industry in Pakistan since 1993,” said Syed Haris Raza, Vice-President of Gerry’s Dnata.

“This expansion will help the industry continue to grow and meet the needs of the travel and cargo communities.”

“The aviation industry in Pakistan continues to grow, and as a trusted partner, our goal is to ensure the smooth handling of flights, passengers, and cargo across the country. Our new locations add cargo capacity, passenger handling capabilities and create new jobs—a good thing for the industry and the economy,” added Raza.

The new airport locations increase Gerry’s footprint to seven airports across Pakistan, including Karachi, Lahore, Islamabad, and Peshawar, and makes it the largest ground handler in Pakistan, now able to welcome over 3 million passengers in and out of these locations every year.

http://www.emirates247.com/business/corporate/dnata-arm-adds-3-new-...

BEIJING (Online) – Air China on Saturday announced it would launch four new Asian routes in October, connecting Beijing to more destinations in south and southeast Asia.

Flights linking Beijing and Karachi, Pakistan, will launch on Oct. 26 with three flights every week. It will stop in the country’s capital Islamabad.

The Beijing-Mumbai, India, route will be launched on Oct. 25, with four flights every week.

On the same day, flights will also begin connecting Beijing with Kuala Lumpur, Malaysia, with four flights every week.

On Oct. 27, another route linking Beijing with Colombo, Sri Lanka, will begin, with three flights every week.

http://en.dailypakistan.com.pk/business/air-china-to-launch-four-ne...

#Bahrain's Gulf Air plans to launch two new #Pakistan routes. #Multan #Faisalabad http://www.arabianbusiness.com/bahrain-s-gulf-air-plans-launch-two-... …

The addition of direct services to the cities of Faisalabad and Multan are scheduled to launch in December, the airline said in a statement.
The airline will operate four weekly direct flights to Multan and three weekly services to Faisalabad, it added.
Ahmed Janahi, chief commercial officer, said: "We are committed to serving the Pakistan market, as we have done since our first entry in 1960.
"Accordingly, we are delighted to supplement our existing operations - catering to passenger demand from across the country.
"I would like to extend our thanks to the Pakistan authorities and Pakistan Civil Aviation Authority for facilitating and supporting this new development that I am confident will be well received by passengers."
The new launches will take the carrier's total number of Pakistan destinations to seven in addition to Karachi, Lahore, Islamabad, Peshawar and Sialkot.
Gulf Air flights to Multan, Pakistan's fifth largest city by population, and Faisalabad, a major industrial and manufacturing hub, will be operated by an Airbus A320 aircraft.
Gulf Air said in August that its year-on-year losses reduced by 30 percent in the first half of 2014.
The airline's revenues increased by 10 percent during the same period, its chairman said in a statement without giving specific figures.

Gulf Air starts new #Pakistan flights to/from #Faisalabad, #Multan airports http://bit.ly/1RkMPq2 

Bahrain national carrier, Gulf Air, said on Tuesday it recently started flights to Pakistani cities Multan and Faisalabad.

The two new flights increases Gulf Air’s services to Pakistan to seven. It also flies to Karachi, Lahore, Islamabad, Peshawar and Sialkot.

The flights to Multan and Faisalabad are operated by an Airbus A320, a narrow body single aisle aircraft, according to an emailed statement.

Multan is Pakistan’s 5th most populated city and Faisalabad is a major industrial and manufacturing hub.

#US First Lady Jackie Kennedy returned from #Pakistan to #US as a passenger on #Pakistan International Airline #PIA

The airline is now in debt and in crisis. It faces competition from private airlines. Staff unions are fighting government plans to sell off at least part of it.

On Feb. 2, two PIA employees were shot dead in Karachi during a demonstration against privatization. It's not clear who did it. The police used unusual force that day, including water cannons and teargas.

In a tent not far from the airport, a group of men mourns one of the two victims, a 57-year-old flight engineer named Saleem Akbar.

"When I received a call, I was really shocked and I don't understand what should I do," says his son, Fahad. "I never expected such things from the authorities. It was just a peaceful demonstration."

PIA workers nationwide responded to the killings by walking out en masse. For almost a week, PIA's fleet was grounded.

The strike was yet another reminder to Pakistanis of how far their airline's star has fallen. They used to boast about how PIA was the first Asian airline to operate jets and how it provided the planes that helped launch Emirates airline.

Ask Pakistanis what's gone wrong and they often reel off a list.

In part, says Khurram Husain of Pakistan's Dawn newspaper, it's "the inability of the government to manage what are essentially commercial enterprises. In part, political interference. In part, resistance to change from within due to excessive union activities and excessive bureaucratization."

Husain has been tracking the airline for years. He says at the heart of PIA's problems, there's a number.

"That number is the accumulated losses that the airline has managed to rack up by now," he says. "That number now stands at just under $3 billion, about half the national defense budget."

That huge $3 billion debt is paralyzing the airline, says Husain. "Just about the only thing that senior PIA management has been busy with is arranging for funds with which to make the next debt-service obligation," he says.

Pressure to overhaul PIA is coming from the International Monetary Fund, which has provided a big loan to Pakistan. The country's economy is blighted by many problems, from chronic power shortages to massive tax avoidance. The IMF thinks it's time to tackle loss-making state-run enterprises, like PIA.

Political commentator Hosain believes it's inevitable that the government will have to sell a big chunk of the airline. "PIA is hemorrhaging dollars," she says. "There's no way around it."

Many PIA staff hope that's wrong.

"The basic thing is the security of job. There is no security of job in privatization," says PIA accounts official Adnan Malik.

The Pakistani public may have fallen out of love with their airline. But Malik hasn't. "When you serve in airline, you feel love with them," he says. "You feel love for PIA. Yes. I love my country, I love PIA!"

http://www.npr.org/sections/parallels/2016/02/11/466280744/once-pak... …

#Pakistan saw 23% growth in airline passengers in 2015; #Gwadar airport growth fastest at 73% #CPEC http://www.anna.aero/2015/09/02/pakistan-sees-a-rise-in-airline-sea... … via @annaaero

Pakistan is one of the world’s youngest countries, established in 1947 after gaining full independence from India. One of anna.aero’s favourite places to visit is Mohenjo-Daro City, built around 2500 BCE, it was one of the largest settlements of the ancient Indus Valley Civilisation, and one of the world’s earliest major urban settlements. The excavated ruins are a great place for the data elves to play a game of hide and seek. As always, if you want to see these wonders for yourself, the best way to reach Pakistan is to fly, and there are currently 22 airports with commercial flights that may be of relevance.

http://www.anna.aero/wp-content/uploads/2015/09/chart-Pakistans-top-12-airports1-300x205.png 300w" sizes="(max-width: 757px) 100vw, 757px" />

Source: OAG Schedules Analyser data for August 2015 and August 2014.

22 commercial airports, only one is reporting a reduction in capacity

Pakistan’s commercial airports have seen major growth in capacity in the past 12 months, as S15 seat capacity is showing a rise of 23%. Of all the airports in Pakistan, the one that is recording the greatest growth in capacity is Gwadar (13th largest in S15), which is showing an increase in capacity of 73%. A total of eight airports are recording a growth rate over the past 12 months that is greater than 60%, with four of these airports being in the top 12 (highlighted in light green). Only one airport is showing a decline in capacity when compared with S14, Skardu. The 14th largest airport in 2015 was the 11th biggest last year. However, the facility has witnessed a decline in seat capacity of 14% according to OAG Schedules Analyser. In the top 12, the airport order pretty much remains constant, with Multan (+64%), Quetta (+62%) and Faisalabad (+61%) all climbing one place as a result of all of them seeing a growth of over 60%. Turbat is a new airport to the top 12 (13th in S14) as a result of Skardu’s capacity decrease.

http://www.anna.aero/wp-content/uploads/2015/09/chart-Pakistans-top-12-country-markets2-300x205.png 300w" sizes="(max-width: 757px) 100vw, 757px" />

Source: OAG Schedules Analyser data for August 2015 and August 2014.

UAE leading international market

After seeing a rise in capacity of nearly 26%, the domestic market is the largest in Pakistan. The country market that is recording the best growth in the top 12 is Sri Lanka. The country pair is served by two routes to Colombo from Karachi and Lahore, with the latter only being launched in November last year with a twice-weekly service operated by Mihin Lanka. Services to Karachi have seen an increase in capacity of 11%, a sector flown by SriLankan Airlines. Of the country markets in the top 12, the only one to show a decline in capacity is Kuwait. In total there are three connections between Kuwait City and Pakistan for S15 (same as in S14), Lahore (-6%), Islamabad (+1%) and Sialkot (-23%). Surprisingly Karachi, the largest airport in Pakistan relating to seat capacity, does not have a direct service to Kuwait.

http://www.anna.aero/wp-content/uploads/2015/09/chart-Pakistans-top-12-airlines2-300x205.png 300w" sizes="(max-width: 757px) 100vw, 757px" />

Source: OAG Schedules Analyser data for August 2015.

Turkish growing faster than MEB3 in Pakistan

Over the past 12 months, Turkish Airlines has grown seat capacity out of Pakistan by 38%, beating the MEB3 carriers of Emirates (+13%), Qatar Airways (+28%) and Etihad Airways (+18%). What should also be noted is that Emirates’ sister airline, flydubai (highlighted in light green), has now overtaken Etihad Airways in relation to the monthly seat capacity on offer by both airlines in S15, helped by the carrier reporting a growth in capacity of 66%, and climbing from 12th spot in 2014 to eighth in 2015 in relation to Pakistan’s top 12 airlines. This has been helped in part by the airline recently launching services from Dubai to Faisalabad. Nonetheless the number one out of Pakistan remains the country’s national carrier, Pakistan International Airlines. The airline has reported a growth in capacity when compared to the same time period of last year of 25%. None of the airlines in the top 12 are reporting seat capacity reductions in S15. However, Air Indus is showing a consistent pattern with 0% growth and offering the same amount of seats as S14, but growth from Airblue means that the airline drops to fifth in S15 from fourth in last year.

Air Indus to resume operations from 11 September

Air Indus (highlighted in red), Pakistan’s fifth largest carrier in S15, was recently suspended by the CAA (Civil Aviation Authority of Pakistan) for violating safety regulations on 1 July. However an investigation by anna.aero shows that the airline’s booking system is taking bookings for flights commencing from 11 September. Therefore they have been considered in the analysis of Pakistan’s top 12 airlines as a result of assuming that flights will be resuming shortly. However, anna.aero is unaware as to the amount of seats that would have been lost during the suspended period, which would alter the overall 2015 top 12 airline standings.

Geneva – The International Air Transport Association (IATA) released its updated passenger growth forecast, projecting that passenger numbers are expected to reach 7 billion by 2034 with a 3.8% average annual growth in demand (2014 baseline year). That is more than double the 3.3 billion who flew in 2014 and exactly twice as many as the 3.5 billion expected in 2015.

Previously, IATA forecast 7.4 billion passengers in 2034 based on a 4.1% average annual growth rate. The revised result reflects negative developments in the global economy that are expected to dampen demand for air transport, especially slower economic growth projections for China. 
The five fastest-increasing markets in terms of additional passengers per year over the forecast period will be China (758 million new passengers for a total of 1.196 billion), the US (523 million new passengers for a total of 1.156 billion), India (275 million new passengers for a total of 378 million), Indonesia (132 million new passengers for a total of 219 million) and Brazil (104 million new passengers for a total of 202 million).

Seven of the ten fastest-growing markets in percentage terms will be in Africa. The top ten will be: Malawi, Rwanda, Sierra Leone, Central African Republic, Serbia, Tanzania, Uganda, Papua New Guinea, Ethiopia and Vietnam. Each of these markets is expected to grow by 7-8% each year on average over the next 20 years, doubling in size each decade.
In terms of routes, Asian, South American and African destinations will see the fastest growth, reflecting economic and demographic growth in those markets. Indonesia-East Timor will be the fastest growing route, at 13.9%, followed by India-Hong Kong (10.4%), Within Honduras (10.3%), Within Pakistan (9.9%) and UAE-Ethiopia (9.5%)
“The demand for air transport continues to grow. There is much work to be done to prepare for the 7 billion passengers expected to take the skies in 2034,” said Tony Tyler, IATA’s Director General and CEO.
“Economic and political events over the last year have impacted some of the fundamentals for growth. As a result, we expect some 400 million fewer people to be traveling in 2034 than we did at this time last year. Air transport is a critical part of the global economy. And policy-makers should take note of its sensitivity. The economic impact of 400 million fewer travelers is significant. Each is a lost opportunity to explore, create social and cultural value, and generate economic and employment opportunities. It is important that we don’t create additional headwinds with excessive taxation, onerous regulation or infrastructure deficiencies,” said Tyler.

http://www.iata.org/pressroom/pr/Pages/2015-11-26-01.aspx