International Aviation Law: A Practical Guide
Chapter 11
Page 225
Airline Operations
Page 225
Introduction
The Nature of Airline Operations
Today, there are over 5,000 airlines issued with International Civil Aviation Organization (ICAO) codes and at any time there are approximately half a billion passengers airborne. By any measure the airline industry is big business with a global market valuation of USD 841 billion in 2023. The recovery of commercial aviation following the carnage brought about by the coronavirus pandemic has been nothing short of astounding and demonstrates the resilience of this industry sector.