Boeing sees growth in air travel in Latin America

U.S. aircraft maker Boeing Corporation Co expects passenger traffic in Latin America to grow faster than in other regions as countries ease regulations and boost incomes, the company's regional analyst said Tuesday.

Boeing predicts annual growth in air travel in Latin America will average 4.4 percent over the next two decades, well above the 4 percent growth projected for the industry in the rest of the world, which will be driven by a trend toward more liberal policies over the next 10 years.

David Franson, the company's regional director of market analysis, said the company sees the liberalization process not only as a growth driver for the industry, but also as a great way to democratize air travel and make it more accessible to more people.

He said the loosening of government controls has already helped create a network of low-cost carriers in Latin America, which has helped increase the number of routes in the region.