On a global scale, passenger air travel is expected to maintain positive growth rates up to 2030, despite a number of challenges faced by the industry: Airlines around the world are struggling with high jet fuel prices and sluggish economic growth. However, these difficult economic conditions are predicted to be offset by an increase in passenger figures, which in turn is projected to translate into improved financial performance of the airline sector. It is believed that the global aviation industry will reach 7.5 billion US dollars in profits in 2013, up from about 4.6 billion US dollars in 2009. Between 2013 and 2023, the number of airline passengers is expected to grow at a compound annual growth rate (CAGR) of four percent.