The global air travel industry is expected to recover 52 percent of the pre-pandemic traffic this year as flights open up in most parts of the world in the coming months, the International Air Transport Association (IATA) said Wednesday
WASHINGTON (Pakistan Point News / Sputnik - 26th May, 2021) The global air travel industry is expected to recover 52 percent of the pre-pandemic traffic this year as flights open up in most parts of the world in the coming months, the International Air Transport Association (IATA) said Wednesday.
By next year, the recovery level is expected to be as high as 88 percent, while in 2023, it should surpass 2019 levels by as much as 105 percent, the global air travel body said in a statement.
"The rapidly growing vaccinated population and advancements in testing will return the freedom to fly in the months ahead," IATA Director General Willie Walsh said in the statement. "And when that happens, people are going to want to travel."
Walsh cited as an example the recent 100-percentage point spike in bookings from the UK to Portugal after the UK's "Green List" was announced in early May.
IATA said the projected recovery in passenger numbers was also slightly stronger than the initial rebound in demand measured in revenue passenger kilometers (RPKs), which was estimated to grow by an annual average of 3 percent between 2019 and 2039. This was owing to the expected strength of domestic markets like China with its large passenger numbers and shorter distances, it said.
Consumers have also accumulated savings in the lockdowns, in some countries exceeding 10 percent of gross domestic product, and were now eager to spend some of that money on travel.
"The immediate challenge is to reopen borders, eliminate quarantine measures and digitally manage vaccination/testing certificates," Walsh said. "At the same time, we must assure the world that aviation's long-term growth prospects are supported with an unwavering commitment to sustainability. Both challenges require governments and industry to work in partnership. Aviation is ready. But I don't see governments moving fast enough."
The travel and tourism sector was a major contributor to GDP and the livelihood of those who depended on it was at stake as the industry emerged from its deepest and gravest crisis triggered by the COVID-19, IATA said.
"This should be a clarion call to governments to get ready," Walsh said. "To avoid greater long-term economic and social damage, restart must not be delayed. Governments can facilitate a safe restart with policies that enable restriction-free travel for vaccinated people, and testing alternatives for those unable to be vaccinated. Governments must also be ready with processes to digitally manage the vaccine or test certificates ensuring that a safe restart is also efficient."
IATA said global travel was not expected to slow down in a major way until 2030, when it is expected that weaker demographics and the assumption of limited market liberalization will begin to take their toll.
IATA represents some 290 airlines comprising 82 percent of global air traffic.
