UP, UP AND AWAY

AS THE FIRST IN-PERSON AIRSHOW TO TAKE PLACE SINCE THE OUTBREAK OF THE PANDEMIC, THE EVENT SAW SEVERAL DEALS ANNOUNCED

- AARTI NAGRAJ

Standing at the tarmac of the Dubai Airshow, watching a military jet perform extremely complex feats in the sky – going up and down in twisting patterns, it appeared to be sketching the state of the entire aviation industry in the last two years. The Covid-19 pandemic took the industry on a rollercoaster ride – with the downward spiral quite sharp and long. Yet, at the Airshow, it was clear that the ride has started to go upwards now, with all those on the front seats clearly relieved to be heading in the right direction – albeit gradually.

In a state of the industry report released at the Airshow, Embraer announced that due to the effects of the pandemic, global traffic recovery – measured in revenue passenger kilometers (RPK) – is forecast to grow 3.3 per cent annually to 2040.

“Although slightly more optimistic than our previous forecast which only covered 10 years, the rate is still a notable deceleration compared to pre-Covid growth rates for the next two decades. We expect global RPKs to return to 2019 levels in 2024, a result of an extended pandemic recovery period and from expected changes in industry dynamics,” the report stated. Looking at the Middle East, the growth rate is expected to be 3.8 per cent – ahead of Europe and North America.

Airlines operating in the Middle East region will require 3,020 new passenger and freight aircraft deliveries by 2040, Airbus said in its Global Market Forecast launched at the Dubai Airshow. This will bring the total fleet to 3,210 from a 2019 fleet baseline of 1,300 aircraft.