With the huge escalation in home and business energy costs, the rise in everyday fuel and transport costs faced by most families and the very steep rise in food and other household costs we are going to see an exceptionally big decline in all kinds of leisure travel - visiting friends and families, city breaks and traditional holidays.
With the increase in energy costs even more apparent in the commercial sector, where the wholesale spot price of electricity was 87p per KWh on Friday, I would imagine that any prudent business would look very cautiously at spending at the moment. For example the cost of heating and lighting at the terminal and throughout the airport is likely to rise by a factor of perhaps as much as 10 over the next 8 months, and I think we are likely to see a big decline in aviation and passenger numbers over this period too.
I think any business would do well to 'batten down the hatches' for the next couple of years - one only has to look at Southend to appreciate how quickly markets can change.
The good times will return in time, but the coming couple of years will present as much of a challenge for aviation as COVID did.