The impact of Greek economic crisis to air passenger transport

The global economic downturn in 2008 has severely affected almost all sectors of the economy. The impacts of current economic recession to the Greek airline sector are being examined in this study, as this sector has huge potential for economic growth. The civil aviation sector in Greece is one of the most vital industries, as tourism is one of the most significant income generators for the country. The correlation between air passenger transport and economic activity is being analyzed; whereas the economic benefits of this sector are being quantified. The aim of this study is to point out how economic recession has impacted the Greek airline industry and suggest directions for future course of action which would be useful to the policymakers, regulators and researchers. Keywords: economic crisis; air passenger transport; GDP ; economy