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Aircraft and transport: sector at pre-covid levels

In four years operating costs have grown dramatically

The number of air passengers transported around the world has returned to the same record level recorded in the period before the pandemic. However, in these four years operating costs have grown dramatically (fuel prices, staff salaries) and in fact the profits of airlines are on average -40% compared to 2019. It emerges from the data published by the International Air Transport Association (IATA). 

Despite the boom in travel demand from passengers, the specter of recession weighs heavily on the air transport sector. According to analysts, even if turnover has returned to pre-covid levels, operating costs are on average 18-19% higher, with personnel costs rising by 35-40%. 

These uncertainties have pushed several carriers, including the US Delta Air Lines and American Airlines, to lower their profit outlook for the third quarter of 2023. In Europe, however, the price of tickets is being leveraged to respond to a possible weakening in demand. A scenario aggravated by the Ukrainian crisis, the high cost of energy and the tensions between Israelis and Palestinians, with the possible closure of airspace.

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AVIONEWS - World Aeronautical Press Agency