Richard Libby

Latin America and the Caribbean’s commercial aviation sector is poised for one of its most dynamic growth phases in decades. Passenger traffic is forecast to exceed 746 million journeys in 2025,  surpassing pre-2019 volumes. This surge is unlocking opportunities for airlines to rethink their networks, modernise fleets and meet rapidly evolving passenger expectations.

For many smaller and mid-sized carriers, the shift marks a turning point. Years of operating with ageing fleets and limited capacity are giving way to fresh strategies and aircraft acquisitions. Across the region, operators are seizing the chance to strengthen connectivity, from linking island nations to major hubs, to opening new routes in hard-to-reach markets.

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When boarding a domestic flight in the United States, it’s easy to see that air travel in the country is thriving – global air travel. Airlines in the US and Canada were the first in the world to return to post-pandemic profitability in 2022 and have done a phenomenal job of matching capacity to demand. Looking ahead, the forecast is bright as carriers in the region are expected to post a net profit of $14.4 billion in 2024 (IATA).

While debates range on whether so-called ‘revenge travel’ is over, for IATA, North America remains “the standout region in terms of financial performance.” Its latest forecast states demand in Revenue per Passenger Kilometer (RPK) was 16% higher in 2023 compared to 2022, with a 6.3% year-on-year rise in March 2024.

Amid such a thriving environment, the region is poised to not only profit from revived travel demand but to also serve as a source of aircraft for other regional airlines.

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At Jetcraft Commercial, we have decades of experience in commercial aircraft transactions. Over the years, we’ve worked with every type of customer across the globe and have seen airlines succeed and fail.

The current landscape provides ample opportunity for this combination of success and failure. On the one hand, commercial aviation has been forced to contend with significant headwinds over the last few years and the post-Covid recovery remains underway. On the other, in adversity there is opportunity, which is why we’ve seen many new carriers enter the market, including Norse Atlantic Airlines, Canada Jetlines, and Bonza in the past year alone, as well as existing smaller operators such as Provincial Airlines in Canada rapidly expanding to replace legacy carriers who have exited markets.

While the prospects for start-up airlines can be exciting, our experience indicates there are several key considerations that will prove key to success.

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