The number of travelers globally is expected to reach 4.7 billion people in 2024, compared to about 4.5 billion in 2019.
Aircraft deliveries are falling sharply, due to production problems Boeing And Airbus, global airlines will be exposed to more pressure during the summer months, as travel demand is expected to exceed pre-pandemic levels, as reported. Reuters”.
Airlines are spending billions on repairs to continue operating older, less fuel-efficient planes and paying a premium to secure planes from lessors. But some airlines are still forced to reduce their flights to deal with the shortage of available aircraft.
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The number of travelers globally is expected to reach record levels, with 4.7 billion people expected to travel in 2024, compared to about 4.5 billion in 2019.
John Grant, chief analyst at travel data company OAG, expects strong performance from airlines throughout the summer with some rise in the cost of flying.
The International Air Transport Association (IATA) expected in December a nine percent annual growth in the capacity of global airlines this year. This estimate seems optimistic in the wake of the safety crisis involving Boeing aircraft.
Carriers will receive about 19 percent fewer aircraft this year than they expected due to production problems at Boeing and Airbus, according to Martha Neubauer, senior associate at Aerodynamic Advisory.
The aircraft leasing market is booming due to the shortage of new aircraft. Data issued by Sirim Ascend Consultancy show that the cost of leasing new Airbus A320-200neo and Boeing 737-8 MAX aircraft reached $400,000 per month, the highest level since mid-2008.
John Heimlich, chief economist at Airlines for America, which represents major American airlines, said that airlines are spending 30 percent more on aircraft leases than they were before the pandemic.
