Despite high prices, global aviation is facing record numbers of passengers

In Europe, 5.9 percent more people will probably use an airplane, in North America the increase is 9.2 percent and in Asia even 17.2 percent. Ticket prices remain high given the strong demand, according to an analysis by credit insurer Acredia in collaboration with Allianz Trade. “Consumers are willing to pay higher prices; travel seems to be an indispensable part of the household budget,” writes Michael Kolb, CEO of Acredia.

Major events stimulate ticket sales
Trends such as online meetings that make business travel unnecessary, or social criticism of the large ecological footprint, would have little impact on air travel. In the summer season, the major sporting events of the European Football Championship and the Olympic Games are likely to further boost aviation in Europe. It is expected that 10.4 percent more passengers will generate 967 billion dollars (about 899 billion euros) in revenue for the airlines. According to the research, this would be 6.5 percent more than the year before.

Fleets are being rejuvenated
As aircraft shortages and other factors limit the supply of seats, airline ticket prices will remain high. At the same time, more and more old aircraft are being retired in an effort to reduce CO₂ emissions and build a more energy-efficient fleet. The average age at which aircraft are withdrawn from the market has fallen from 27 years before the pandemic to 23 years recently. “Revenue per passenger, i.e. the average amount paid per kilometer flown, is expected to increase by 3.2 percent year-on-year this year,” the study said.