Airports Council International (ACI) World’s latest quarterly airport traffic outlook shows strong air travel demand will continue to improve into the northern hemisphere summer season.
Highlights from ACI World’s 13th Advisory Bulletin on the impact of Covid-19 on the airport business, and the path to recovery, include:
- The easing of inflation and rising consumer confidence in most OECD (Organisation for Economic Co-operation and Development) countries combined with declining jet fuel prices, suggests sustained strong air travel demand that will continue to improve into the summer season.
- Airports are forecasted to welcome 2.7 billion passengers in 2Q2023 and 2.9 billion in 3Q2023.
- Global passenger volume is projected to reach 8.4 billion in 2023, representing 92% of 2019 levels.
- The reopening of China’s economy further contributes to global activity and international air travel. Its economy exceeded expectations in 1Q2023, with GDP growth accelerating to 4.5% from 2.9% in 4Q2022.
- The Asia-Pacific region is expected to rebound in 2023, reaching 2.9 billion, or 85.3% of 2019 levels.
- The share of international passengers is expected to make up 38% of total passengers in 2023, close to the 42% of traffic share it achieved in 2019.
ACI World director general Luis Felipe de Oliveira said: “GDP growth forecasts have moderated – energy and food prices, although decreased from their peak levels, remain higher than pre-pandemic levels. Inflation will also be an issue in the near term, straining the financial viability of airports as they face increased operational costs.
“Amid this background, regulators must support airports by allowing them to operate as businesses in their own right. In many jurisdictions, airports cannot adjust charges without regulatory approval – conversely, airlines can freely adapt their tariffs based on demand and supply factors. Flexible policies on charges can help airports recover and grow sustainably, optimise the use of infrastructure and the customer experience, invest in current and future infrastructure, meet decarbonisation targets, and maximise airports’ social and economic benefits among many other benefits.”
