New forecasts from Airports Council International (ACI) World predict that the aviation industry could collapse without government policy support and assistance.
ACI World’s recent COVID-19 impact analysis found that the global airport industry saw a 6 billion passenger reduction by the end of 2020 – a decline of 64.2 percent in global passenger traffic, representing a reduction of nearly $112 billion in revenue.
Additionally, ACI’s World Airport Traffic Forecasts show that global passenger traffic worldwide is expected to grow at an annualized rate of 2.4 percent over the next five years due to the continuing effects of the pandemic. ACI said recovery for the industry is likely uneven across the globe. The domestic market, the organization said, is not expected to recover to pre-COVID levels until 2023, while international markets will recover much more slowly.
However, even a slow recovery will only be possible if governments introduce a consistent approach to testing for COVID-19 and do away with restrictive quarantine measures in favor of coordinated and risk-based approaches that combine testing and vaccination.
“The prospects for recovery in the aviation industry have taken a hit following the introduction of renewed travel restrictions and lockdowns in response to new variants of the COVID-19 virus emerging,” ACI World Director General Luis Felipe de Oliveira said. “While ACI forecasts show there is a pathway for a long term recovery, this can only be possible if a solid foundation can be laid in the short term with government policy support and direct assistance. A coordinated approach to testing and vaccination will ensure the health and safety of passengers, staff and the general public, promote travel, and allow us to do away with restrictive quarantine measures that are hampering the industry efforts to prepare for a sustained recovery.”