Aviation Industry to Be Set for Period of Turbulence Due to Economic Factors

It is undeniable that right now, with individuals anxious to escape their COVID-19 suffering after two years, flight traffic is positively soaring.

Highlights

  • According to analysts, a number of economic reasons may cause "turbulence" in the aviation sector following the summer vacation boom.
  • Since the start of the coronavirus crisis, which has severely impacted the aviation sector since 2020, the summer is shaping up to be by far the finest.
  • According to Eurocontrol, a pan-European air traffic regulator, several carriers, like Ryanair, and nations, like Greece, have already regained or even exceeded their daily flying numbers for 2019.

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Aviation Industry
According to analysts, a number of economic reasons may cause "turbulence" in the aviation sector following the summer vacation boom.

It is undeniable that right now, with individuals anxious to escape their COVID-19 suffering after two years, flight traffic is positively soaring.

Inflation, the potential for a recession, and Russia's aggression on Ukraine have all raised concerns at this week's annual convention of the Airports Council International (ACI) Europe in Rome.

Since the start of the coronavirus crisis, which has severely impacted the aviation sector since 2020, the summer is shaping up to be by far the finest.

According to Eurocontrol, a pan-European air traffic regulator, several carriers, like Ryanair, and nations, like Greece, have already regained or even exceeded their daily flying numbers for 2019.

And despite a dramatic increase in ticket costs, lengthy waits in airports from Frankfurt to Dublin to Amsterdam, and strikes by flight attendants, pilots, or air traffic controllers, businesses are filling seats for the upcoming weeks.

"Visibility is low because there is a lot of uncertainty," said Olivier Jankovec, director general of ACI Europe.

"We're now in a war economy in Europe, we have the prospect of a quite harsh recession, we have inflation at record levels, so how all of this is going to play into consumer sentiment... the jury's still out."

Datchanapriya is a journalism and mass communication student from Chennai. Has always been passionate about writing and connecting with people.

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