The aviation industry continues to recover and is expected to become profitable on a global level again this year, according to Avolon, a major player in the global aircraft leasing market.
The leasing giant writes in a recent report that flying may have already risen to levels before the pandemic hit in 2020 in June.
Growth picked up in 2022, with passenger traffic up 70 percent. But last year, Europe and North America were the main growth drivers. Now Asia will be the driving force, helped by the lifting of COVID-19 restrictions in China, according to Avolon.
At the same time, Avolon warns that development could be slowed by the poor supply of new aircraft, as manufacturing is not keeping up with the upward trend.
”"Travel demand is no longer a limiting factor for the recovery, but rather the ability of airlines to get new aircraft into the air," Avolon writes in a press release.
For the entire aviation industry, Avolon expects profits of around $4.7 billion this year.
In 2020 and 2021, the airline industry lost a total of $180 billion, according to Avolon. In 2022, the industry was close to breaking even.
Source:TT-SvD.SE
