Airline industry sees long-term rebound for sector

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After flying into the financial turbulence of the Covid pandemic, the airline sector expects passenger traffic to take off despite concerns about the industry’s impact on climate change.

Nevertheless that will be good news for aircraft manufacturers, who slowed down production during the crisis as airlines cancelled orders to stay financially afloat.

As with the September 11 attacks or the global financial crisis of 2007-2009, “the industry will prove resilient again,” Darren Hulst, vice president of marketing at Boeing, said last year. If the biggest aircraft fleets are currently in the United States and Europe, the biggest increases are expected in Asia and the Middle East, the consulting firm Oliver Wyman said in a recent study.Airbus delivered 19 percent of its planes to China, more than the United States, and this trend is not expected to change.

“It is a sign of social and economic maturity and permits experiences which were unthinkable for their parents.” In 2019, air traffic declined by four percent in Sweden — but it hit a record across Europe, according to the air traffic control body Eurocontrol.“Someone who makes one flight per year in a plane, do you really believe that they will say that it is too polluting and give it up?” he said.

 

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