Passenger traffic is expected to be 2% higher than pre-pandemic figures in 2024
In the latest report, international civil aviation organization (ICAO) predicts a gradual recovery in global air travel, with passenger traffic expected to exceed pre-pandemic figures in 2024. ICAO predicts that global air travel demand will increase by 3% above 2019 levels. This increase could reach 4% if the pace of recovery accelerates on routes that have not yet reached pre-pandemic levels. Furthermore, air passenger traffic is expected to increase by approximately 2% over 2019.
Despite economic challenges, the global aviation industry is expected to maintain operating profits, reflecting its resilience and adaptability in the face of continued uncertainty.
Sustainable growth during recovery
ICAO expects the industry to grow at a compound annual growth rate (CAGR) of approximately 0.5% from 2019 to 2024, coupled with increased passenger traffic and demand for air travel.
ICAO Member States’ commitment to the ICAO Board’s guidance is critical to the recovery of air services following the pandemic. Commenting on the report, ICAO Board President Salvatore Sciacchitano said: “The implementation of ICAO’s post-pandemic guidelines is equally important to ensure the resilience and sustainability of this recovery.” Ta.
Despite forecasts for positive growth in air travel, ICAO expects global freight tonne kilometer (FTK) demand to remain around 2% below 2019 levels in 2024. This reflects the broader economic downturn and reduced demand worldwide.
Decarbonization goals
ICAO Secretary-General Juan Carlos Salazar highlighted the goals of governments to decarbonize air transport by 2050, and that these goals will support the sustainability, recovery and future development of the global air travel network. states that it will support. He also emphasized the importance of ICAO’s efforts to accelerate the development and deployment of technologies, operational improvements, and clean aviation energy needed for decarbonization.
“ICAO’s latest air traffic forecasts are promising for global development, and in particular the need for the international community to accelerate sustainability efforts, to ensure the production and deployment of sufficient quantities of sustainable aviation fuel.” It’s a reminder that there is,” Salazar added.
Read: Saudi Arabia’s air traffic will exceed pre-pandemic levels in 2023, with passenger numbers reaching 112 million
Insights from 2023
ICAO’s 2023 analysis shows that global air travel has almost fully recovered to around 95 per cent of pre-pandemic levels, with air traffic on most routes already exceeding pre-pandemic levels by the end of the year. It became clear that it was shown. Major regional routes, particularly those within Europe, North America and the Middle East, showed strong performance, with significant traffic growth. However, most Asian international flights, except those to Southwest Asia, will continue to record low levels in 2023 compared to 2019.
Despite challenges such as rising fuel prices and economic uncertainty, airlines are projecting total operating profits of $39 billion in 2023, at pre-pandemic levels. Increased productivity and higher passenger yields contributed to this increase in profitability, with North American and European airlines emerging as key beneficiaries.
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