The International Air Transport Association (IATA) called for close cooperation and innovation among aviation stakeholders to meet the challenges and opportunities in the Latin America-Caribbean (LatAm) region.

"Aviation in LatAm is a bright spot in the aviation world — the only region generating aggregate profits for three consecutive years. September figures show the region’s international passenger traffic growing faster than the global average. And the four top growth markets for premium traffic over the first nine months of the year are either connected to, or within, the region. But challenges remain that must be addressed with the cooperation of all industry stakeholders and advocates," said Tony Tyler, IATA’s Director General and CEO in an address to the Latin American and Caribbean Air Transport Association (ALTA) Airline Leaders Forum in Rio de Janeiro.

Tyler attributed the region’s strong performance to structural change over the last decade. "It is absolutely clear that the hard work of the last decade has transformed the region’s air transport industry for the better. Overall, Latin American aviation has become safer and more profitable. It has also been a cradle of innovation on cross border ownership structures. And the merger of TAM and LAN will create an aviation powerhouse of global scale," said Tyler.