The UK chartered passenger flight market is forecast to grow at a compound annual growth rate (CAGR) of 0.2% over the five years through 2017-18, to reach a market value of £3.8 billion
In the past five years, there has been high volatility in industry sales, which grew rapidly in 2007-08 but dipped from 2008-09 through 2010-11.
Industry revenue is set to contract at an annualised rate of 2.7% over the five years through 2012-13. UK chartered passenger flight market revenue will continue its slow recovery by growing an estimated 1.2% over 2012-13 to total £3.75 billion.
Major players within the UK chartered passenger flight market include; Thomas Cook Airlines Ltd, the world's best-known name in travel, thanks to the inspiration and dedication of a single man. Thomson Airways Limited, started up back in 1965 with the aim of making foreign travel accessible to all, and Monarch Airlines Limited, the UK's largest independent charter airline, flying more than 2.5 million sector passengers to over 50 mid and long-haul destinations worldwide every year.
The London 2012 Olympic Games and a general improvement in economic conditions are expected to boost demand for air travel. The UK will welcome an additional 330,000 international visitors as a direct result of hosting the London 2012 Olympic Games.
Competition in the industry is expected to intensify as companies increase their capacity and as major airlines expand the number of routes to remote destinations.
For more information on the UK chartered passenger flight market, see the latest research: UK Chartered Passenger Flight Market Report
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