Page 208 - ΝΑΥΤΙΚΑ ΧΡΟΝΙΚΑ - ΜΑΙΟΣ 2023

News from the aviation world

AVIATION

Edited by: Manos Charitos

PREMIUM CLASS AIR TRAVEL RECOVERS AHEAD OF TOTAL
PASSENGER TRAFFIC
According to IATA data, the total number of air passengers in February
2023 was approaching pre-pandemic levels. It is interesting to note that
on a global scale, premium traffic has recovered faster than total passen-
ger traffic. The data refers to the premium cabin class, encompassing first
and business class, but does not enlighten us as to the purpose of travel
and might thus include leisure travellers who choose to travel in greater
comfort.
The Asia-Pacific region, which faced significant travel restrictions during
the pandemic, had a 65.9% recovery rate for premium passengers in Febru-
ary 2023 compared to February 2019. IATA notes that this is a considerable
improvement from February 2022, when this recovery rate was only 10.7%.
The region’s total passenger numbers have also shown progress, reflecting
the positive impacts of eased travel restrictions and increased business
activity in countries such as China and India.
Europe and North America both reported strong recovery rates in pre-
mium passenger numbers. Europe’s premium passenger recovery rate in
February 2023 was 93.1%, a significant increase from 56.3% in February
2022. In North America, the same number reached 107.7%in February 2023,
thus surpassing pre-pandemic levels and up from 75.3% in February 2022.
These outcomes indicate that demand for premium travel has benefited
from the economic recovery and pent-up demand for travel.
While it is still unclear if consumer preferences and business travel pat-
terns have been durably affected by the pandemic, the overall trend con-
tinues to suggest a positive trajectory for premium-class air travel.

THE STRONG DEMAND FOR AIR TRAVEL IS A DRIVER FOR
AIRLINES
The outlook for the airline industry this summer remains optimistic, with the
latest example being the UK’s EasyJet, which has revised its profit forecast
upward for the second time this year. This development is based not only
on increased passenger demand but also on the fact that passengers are
willing to pay more.
Ryanair CEO Michael O’Leary has predicted that the expected 15% rise in
airfares will not affect bookings this summer as demand for air transport in
Europe in 2023 is now predicted to exceed pre-pandemic levels.
At the same time, Airbus CEO Guillaume Faury has stated that passenger
traffic is on course to surpass pre-pandemic levels, led mainly by China’s
lifting of the pandemic restrictions.

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