CAPA Think Tank - Looking forward to 2024 and beyond

Over the past three years the aviation industry has been constantly looking back to life before the COVID-19 pandemic hit the world. And why wouldn’t it?  

The 2000s can be fairly described as a strong decade for global aviation, with an additional 1.8 billion annual passengers taking to the air by the end of the decade. Annual traffic had risen from 2.67 billion in 2010 to 4.46 billion in 2019 and the stable operating environment provided a platform for airlines to deliver stronger financial performance. 

After constantly comparing the weaker performance of 2020, 2021 and 2022 with pre-pandemic data and highlighting the gradual recovery of air transportation, now is the time to stop looking back and start looking forward and not lose sight of the challenges that lay ahead.  

The world’s aviation markets have awoken from their COVID-19 slumber. However, behind this strong performance and declarations of numerous airlines that demand remains quite strong, one glaring question remains – when will this thirst for travel born from the pandemic be quenched?  

No definitive answer is emerging, as airline executives try to determine the shape demand will take in 2024 and beyond.