2022 has been a year with ups and downs in the aviation industry. The sector had to face several challenges including inflation, severe staff shortages and rising oil prices. But, as many things in life there was also a brighter side. In fact, despite ongoing financial pressure, aviation proved once more to be a strong and resilient industry. The ease of Covid travel restrictions worldwide boosted passenger traffic recovery to the extent that aviation is now expected to return to profitability this year. What else can be expected looking forward? Read here four 2023 aviation trends.
In the run-up to year-end, let’s take a look at the latest aviation news.
According to International Air Transport Association (IATA), the next two years should see continued strides in the aviation industry’s recovery with some sectors faring better than others. Notably, passenger airlines are expected to return to profitability in 2023; however, business travel will be impacted by rising air fares on key business routes. Meanwhile, cargo may see a decline in volumes, yields, and profits due to uprising challenges. Read more.
This November saw aviation continue to recover with some regions setting new priorities to better handle increasing travel demand. New rankings recognized the positive performance of US airports. Finally, a growing number of airlines, airports and ground handlers are recognizing the value that digitalization can bring to key operational areas. Read more here.
Despite ongoing challenges including supply chain disruptions, labor shortages, and other troubled economies in many regions, the aviation industry continues to rebound. Some airlines even managed to improve their on-time performance, taking Latin American carrires the lead. The past month was also very positive for the air cargo sector, with scheduled cargo tonne kilometer(CTK) increasing by 18.7%. Read more news in our monthly wrap-up.
Developments are occurring across the aviation industry within various markets, categories, performance and sustainability. We are witnessing changes in passenger market dominance among regions, the air cargo sector potentially beating performance expectations, an new airline leader in on-time performance, and an update in the progress of sustainable aviation fuel production. Read more here.
As the summer comes to an end, the season closes with some changes in regional performance, concerns over higher airfares, and the focus on the cargo sector’s failure to more rapidly toward digitalization to replace inefficient manual processes. Read more in our monthly wrap-up.
With passenger travel continuing its ascent, the industry as a whole could see profitability in 2023. In North America, profits are already expected to reach $8.8 billion this year. On another note, the European Commission has proposed restoring normal slot usage. The ”80:20” usage rule is said to be aligned with the current air traffic recovery. Air cargo sector news highlights the challenges airports and airlines face in engaging next generation workers and the need to accelerate recruitment efforts. Find out more in our monthly wrap-up.
The aviation industry’s recovery is clearly underway but challenges remain. Passenger demand continues to increase, but capacity issues persist due to staff shortages and changing Covid regulatory procedures. For cargo, which had been one of the bright spots during the pandemic, ground handling bottlenecks are driving higher air cargo rates. The promise of sustainable aircraft fuels (SAFs) is still high in the minds of airline and airport executives, but these fuels are not yet widely available. Add to these challenges, increasing cyber threats targeting airports and airlines and it is evident that the industry is still in the midst of a difficult period. Read this and more news here.
As the aviation industry continues its advancement to recovery, there remain key challenges. Labor shortages, coupled with intense traffic peaks, are leaving airlines grappling with operations. While seeking solutions to their challenges, airlines, airports and ground handlers are also making sustainability a top priority. Read more news highlights in our monthly wrap-up.
The aviation industry’s recovery is well on its way and there are some bright spots to cite. On the one hand, the air cargo sector continues to demonstrate its resilience and shows continued growth. Similarly, Latin American airlines have been benefitting significantly from the more flexible air travel restrictions. On the other hand, ground handling keeps facing great challenges being collaboration between stakeholders key to adress them. These are more topics on our monthly wrap-up.