In Q1 2024, ICAO projects a 2% increase in passenger air traffic compared to 2019, with airlines maintaining profitability.
Demand this year is expected to rise by 3-4%, reflecting a Compound Annual Growth Rate (CAGR) of 0.5% since 2019.
ICAO credits Member States’ alignment with its pandemic guidance for air service recovery. Global freight demand is predicted to dip by 2%.
“The commitment of ICAO’s Member States to aligning their pandemic responses with the guidance developed by the ICAO Council has been crucial to the recovery of their air services,” remarked ICAO Council President Salvatore Sciacchitano. “The implementation of ICAO’s post-pandemic guidance is now equally crucial to ensuring the resilience and sustainability of this recovery.”
Governments’ goals for air transport decarbonization by 2050 support environmental sustainability, driven by ICAO-led initiatives for cleaner technologies and fuels.
However, risks must be managed to sustain these positive trends. In 2023, air traffic on most routes had recovered fully.
Major routes like Intra-Europe and Europe-North America surpassed 2019 levels. Asian routes lagged, except for South West Asia.
Cargo traffic in 2023 remained 3% below 2019 levels, though total operating profits matched 2019 figures, reaching USD 39 billion.
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