2023-07-03 10:16:45
In international air traffic, passengers must continue to be prepared for high ticket prices. According to a recent study by the credit insurer Allianz Trade, the most important reason is the still scarce supply of newly completed aircraft. The manufacturers are only slowly recovering from the slump in deliveries in 2020 and will not reach the global pre-crisis level of around 1,600 new passenger jets in the current year either.
For the airlines, this will probably mean a return to the profit zone in the event of a sharp increase in demand after Corona and falling kerosene prices. They can sell the individual seat much more expensively than in 2019, their margins are increasing. Ticket prices between the USA and Europe have risen by an average of 23 percent over the year.
“After three years of heavy losses, the aviation industry could return to profitability in 2023 – that’s earlier than expected,” said Allianz Trade CEO for the German-speaking region, Milo Bogaerts. “However, the missing capacities remain the bottleneck. That should slow down the flight of the airlines for the time being. For consumers, this also means that flying is likely to remain expensive.”
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Allianz Trade quotes forecasts from the airline association IATA, which expects a surplus of 9.8 billion US dollars (about 9.15 billion euros) for 2023. For comparison, before the pandemic, airlines were making $26.4 billion in profits in 2019 on better-utilized planes. According to IATA estimates, global traffic will grow to 4.35 billion passengers in the current year. That would be only four percent lower than in 2019.
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