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Results of the outgoing year and future prospects

Dec 28, 2020

2020 was a leap year that affected many in one way or another. It is time to take stock of the past year. Check the results of the outgoing year.

The emergence of a new type of coronavirus in the Chinese city of Wuhan, initially not seen as threatening to the world economy, was perceived as another virus among many. But then something happened that happens in Hollywood fantasy films and is written in anti-utopia books.

Closures of cities/countries, global quarantine, economic collapse are just a fraction of the negative effects of the current pandemic.

The pandemic has not spared aviation. According to experts, 2020 was the worst year in the history of global aviation. But will it still be?

Because of the closing of international borders, there is no passenger demand. And this is the biggest driver of industry losses. The crisis has assumed the same dimensions in all parts of the world. World Aviation claims losses in 2020. and capacity cuts. They lag by about 10-15 p.m. and more, after falling demand by more than 50%.

At the bottom of April, world air travel was about 95% below the 2019 level.

According to IATA CEO Giovanni Bisignani, if the second and more destructive wave of COVID-19 does not follow, then the worst of the traffic collapse is probably behind us.

The International Air Transport Association (IATA) expects to open borders and increase demand in 2021. Losses are expected to decrease to $15.8 billion. with a net profit of -2.6%. Airlines will continue to be in recovery mode. However, they are still well below pre-crisis levels (2019). Air fuel prices will rise to an average of $51.8 per barrel per year.

Based on the EUROCONTROL forecast, passenger transport in Europe will not recover at least until 2024. This is stated in the organization’s forecast published on the official Eurocontrol website. Results of the outgoing year are not comfortoing.

In the least optimistic scenari, traffic will not return to 2019 until 2029 .