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The use of air transport and economic activity are interdependent. Air transport provides employment and allows certain economic activities that depend on the availability of air transport services. The economy, in turn, leads the demand for air transport services, resulting in a feedback relationship between the two. The aim of this work is to help understand the relationship between air transport and economic activity. More specifically, this paper seeks to develop a feedback model to describe the relationship between air transport and economic activity and to identify factors that stimulate or suppress the development of air transport. To achieve these goals, this work uses an exploratory research method that combines summary literature review data and case study analyzes. The analysis of the case study at country level is done to describe the impact of aviation for each individual economy. These findings help to develop a feedback model that describes the relationship between air transport and economic activity. In particular, the analysis is used to describe how flows of passenger and freight air transport allow the flows of goods, services, knowledge, tourism, investment, remittances and labor flows to the economies and how air traffic flows can affect the factor. The feedback model is then expanded to perform a quantitative analysis of the evolution of the perceived impacts of air transport on a particular economy. The factors are identified both on the supply side and on the demand side. Demand for air transport was found to be directly affected by external demand shocks, economic recession, political and economic sanctions, and the development of other modes of transport. The analysis also identifies the following factors of change that indirectly affect demand by changing the economic characteristics of the country: economic liberalization, institutional and political reforms, support for infrastructure investment, exchange rate fluctuations, political and macroeconomic stability, growing consumer demand and changes in practices management. The results of this work can help guide further development efforts, investments and policy decisions related to the use of air transport, especially in developing economies