The International Civil Aviation Organisation popularly referred to as ICAO has issued its first complete 2020 air passenger forecast study, revealing that airlines may be faced with 1.5 billion fewer international air travellers this year.
In parallel, international seat capacity could drop by almost three-quarters, resulting in a 273 billion dollar loss compared to previously expected gross operating revenues.
“In today’s updated analysis, the analytical timeframe was extended for another three months to December 2020, and more reliable airfare data was used to calculate revenue reduction,” advised ICAO Secretary General Dr Fang Liu.
ICAO has been providing regularly updated analyses on the economic impact of COVID-19 on air transport since early February 2020, and is providing continuous guidance to air transport planners, regulators, and operators.
The projections are significant to many countries now planning their COVID-19 recovery scenarios, given the importance of tourism, global supply chains, and many other air connectivity factors to local socio-economic prosperity.
The full version of the new ICAO report, along with all other ICAO forecast and guidance materials, are available free of charge for governments, the industry and the general public through the UN aviation agency’s COVID-19 information portal.