African airlines will recover in 2023 and 2024. Looking at the momentum, full recovery will be in 2024. At the global level and as an industry, it will be in 2023 but the basis is not the same everywhere. The US is back to recovery already; the US domestic market is back to what it was in 2019. It very much depends on the market. Markets with big domestic elements are recovering faster. Russian domestic market was way ahead before 2019, before the war in Ukraine.
We are looking at ways to get these funds out. It is really having an impact on the airlines and the recovery of the market as well because airlines will be reluctant to bring capacity into markets where they can’t repatriate their money. It affects national growth and additional capacity. If you can’t get your money out, I am sorry, it is a simple business decision, you are not going to give additional capacity to the market.
All we need to do is to make it clear to people that it will have consequences. The idea that the industry went into bankruptcy because of closures and still lost a huge amount of money doesn’t work that way, and that does not allow them to keep airlines’ funds. Airlines are not rich. We don’t have a lot of cash. If all people do is undermine the recovery in the industry, it is going to have a direct impact on the services that they give.
It is impossible to solve because these differences have existed forever. I honestly don’t see a simple solution to that. It could be good if it is made to be aligned or closely aligned. You are right. In some cases, the difference is significant. I don’t see a simple solution to it.