Global air passenger traffic rebounded to 90.5 per cent of pre-Covid levels in April, led by airlines in Asia-Pacific, which recorded the fastest growth.
Total passenger traffic worldwide increased 45.8 per cent on an annual basis in April, despite the uncertainties hanging over the global economy, the International Air Transport Association said in its monthly report.
International passenger traffic climbed 48 per cent from April 2022. All markets recorded strong growth, with Asia-Pacific airlines again leading the way.
Demand for domestic travel in April also rose 42.6 per cent compared with the same month last year, and has now fully recovered, posting a 2.9 per cent increase over the April 2019 results, according to Iata.
“April continued the strong traffic trend we saw in the first quarter of 2023,” Willie Walsh, Iata’s director general, said.
“The easing of inflation and rising consumer confidence in most OECD countries combined with declining jet fuel prices, suggests sustained strong air travel demand and moderating cost pressures.”
The global aviation industry in 2022 charted a flight path to recovery from the Covid-19 pandemic, the worst crisis in its history, with a boom in air travel demand and sky-high airfares as restrictions eased.
Airlines, airports and aerospace companies started hiring at record rates, adding capacity, resuming routes, repairing balance sheets and – for some – returning to the black after nearly three years of withered earnings.
But the industry now faces tough macroeconomic and geopolitical headwinds that are raising questions on the longevity of the travel boom and the strength of its recovery.
Multi-decade record inflation in western economies, rising interest rates, unfavourable currency swings, higher jet fuel prices and supply chain woes delaying aircraft deliveries are among the challenges facing airlines as they emerge from the pandemic.
The uncertainty of the Russia-Ukraine war is an additional risk to the outlook.
Despite the tough global economic headwinds, Asia-Pacific airlines registered a 192.7 per cent increase in passenger traffic compared with April 2022.
Middle Eastern airlines posted a 38 per cent annual increase in passenger traffic in April. Capacity climbed 27.8 per cent, while load factor – a measure of how well airlines can fill available seats – rose 5.6 percentage points to 76.2 per cent, according to Iata.
“Heading into the Northern Hemisphere peak travel season, aircraft and airports are full of people eager to make use of their travel freedoms,” Mr Walsh said.
“Airlines are working hard to accommodate them with a smooth travel experience despite continuing supply chain shortages and other operational challenges.”
The global aviation community will gather in Istanbul from Sunday to Tuesday for the 79th Iata annual general meeting and World Air Transport Summit.
Meanwhile, global air cargo markets in April registered a slower pace of decline, Iata data showed.
Global demand, measured in cargo tonne-kilometres, fell 6.6 per cent year on year, which was an improvement over March’s decline of 7.6 per cent.
Cargo capacity grew 13.4 per cent compared with April 2022, and 3.2 per cent compared with April 2019, marking the first time in three years that the capacity has surpassed pre-Covid levels.
Six of the world's coolest airports – in pictures
The sharp rise is primarily driven by belly capacity as demand in the passenger business recovers, Iata said.
“The air cargo industry is adjusting itself to the implications of the recovery in passenger demand that brings with it an expansion of belly capacity,” Mr Walsh said.
“The demand environment is challenging to read. Tapering inflation is definitely a positive. But the degree and speed at which that could lead to looser monetary policies that might stimulate demand is unclear.”
What is graphene?
Graphene is a single layer of carbon atoms arranged like honeycomb.
It was discovered in 2004, when Russian-born Manchester scientists Andrei Geim and Kostya Novoselov were "playing about" with sticky tape and graphite - the material used as "lead" in pencils.
Placing the tape on the graphite and peeling it, they managed to rip off thin flakes of carbon. In the beginning they got flakes consisting of many layers of graphene. But as they repeated the process many times, the flakes got thinner.
By separating the graphite fragments repeatedly, they managed to create flakes that were just one atom thick. Their experiment had led to graphene being isolated for the very first time.
At the time, many believed it was impossible for such thin crystalline materials to be stable. But examined under a microscope, the material remained stable, and when tested was found to have incredible properties.
It is many times times stronger than steel, yet incredibly lightweight and flexible. It is electrically and thermally conductive but also transparent. The world's first 2D material, it is one million times thinner than the diameter of a single human hair.
But the 'sticky tape' method would not work on an industrial scale. Since then, scientists have been working on manufacturing graphene, to make use of its incredible properties.
In 2010, Geim and Novoselov were awarded the Nobel Prize for Physics. Their discovery meant physicists could study a new class of two-dimensional materials with unique properties.
Milestones on the road to union
1970
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.
The bio
Favourite book: Peter Rabbit. I used to read it to my three children and still read it myself. If I am feeling down it brings back good memories.
Best thing about your job: Getting to help people. My mum always told me never to pass up an opportunity to do a good deed.
Best part of life in the UAE: The weather. The constant sunshine is amazing and there is always something to do, you have so many options when it comes to how to spend your day.
Favourite holiday destination: Malaysia. I went there for my honeymoon and ended up volunteering to teach local children for a few hours each day. It is such a special place and I plan to retire there one day.
UAE currency: the story behind the money in your pockets
The drill
Recharge as needed, says Mat Dryden: “We try to make it a rule that every two to three months, even if it’s for four days, we get away, get some time together, recharge, refresh.” The couple take an hour a day to check into their businesses and that’s it.
Stick to the schedule, says Mike Addo: “We have an entire wall known as ‘The Lab,’ covered with colour-coded Post-it notes dedicated to our joint weekly planner, content board, marketing strategy, trends, ideas and upcoming meetings.”
Be a team, suggests Addo: “When training together, you have to trust in each other’s abilities. Otherwise working out together very quickly becomes one person training the other.”
Pull your weight, says Thuymi Do: “To do what we do, there definitely can be no lazy member of the team.”
ELIO
Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett
Directors: Madeline Sharafian, Domee Shi, Adrian Molina
Rating: 4/5
