The International Air Transport Association (IATA) has said that the sector will not recover fully until 2024 due to “surprisingly weak” demand – a year later than earlier predictions.
Figures released by the IATA on Tuesday show that global revenue passenger kilometres (RPKs) were down around 87 per cent in June versus the same month in 2019 – a much worse outcome than initially expected. Revised estimates from the body put RPK recovery at 2024, while total passenger numbers are expected to return to a 2019 baseline by 2023.
The revised forecast comes on the back of a
lack of consumer confidence, a decline in business travel, and “second wave” concerns in parts of the US and continental Europe.