By Chris Goss
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Extra resources for Sea Eagles Vol 2 Luftwaffe Anti-shipping units 1942-45
3 per cent every year for 74 years! To some degree, these phenomenal growth rates are due to the novelty of travel and cannot be expected to continue forever. This, of course, means that other countries, especially those less economically developed as the USA, will probably also experience similar rates in the future (see section below on China). While a multiple of 46 million cannot be expected to be repeated in the next 74 years, some growth can reasonably still be expected to occur even in mature markets.
1 Nominal Operating Profits, 1947−2005 Source: Air Transport Association of America, Inc. based on International Civil Aviation Organization (ICAO) statistics going back to 1947. The data are presented both in nominal (current dollar) and real (inflation-adjusted) terms. In general, the US aviation industry has the best statistics available; hence the book will often use those data when similar numbers for the world as a whole are not available. In the case of profits, though, ICAO does have a series of world data.
This was a large amount of money for that time, perhaps enough to purchase one of the islands the plane landed on. For the purpose of this book we will concentrate on the profitability of airlines alone, leaving the rest of the players like manufacturers, suppliers, financiers and the like for another time. The book starts with the profit picture and then decomposes the various elements that defined the results. Historical Proﬁts in the Airline Industry Profits, by definition, are the difference between revenues and costs.