INSUBCONTINENT EXCLUSIVE:
Most regions of the world saw improvements to between 33 - 43 per cent of pre-pandemic levelsAirport traffic is rebounding off of pandemic
troughs in most countries though Fitch Ratings' latest quarterly Global Airport Tracker report says the proverbial runway to normal will not
Reflecting a one- to two-year delay since its last report, Fitch now forecasts recovery estimates ranging anywhere from 4Q'23 to 2025 before
airport traffic returns to 2019 levels
The obvious variable is new Covid-19 variants and surges in the number of cases which caused additional or prolonged lockdown measures and
can linger as vaccine rollouts remain slow and uneven on a global basis.Most regions of the world saw improvements to between 33 to 43 per
cent of pre-pandemic levels for calendar 2020
European and Australian traffic levels suffered the most while traffic levels in the United States and Latin America declined less.Fitch
said air travel patterns will likely change in the next few years due to a general decline in demand stemming from the risks of continued
national- and state-imposed travel restrictions.Domestic and leisure travel are showing signs of recovery in contrast to continued softness
in international and business travel."Vaccine rollouts will likely be the main catalyst of traffic recovery in the next year or so and will
allow countries to reopen and airports to remain operational while providing greater consumer confidence for a return to air travel," said
Director Jeffrey Lack.Fitch said it will continue to monitor lockdown and business travel restrictions, government assistance for airports
and airlines, how carriers respond to the crisis and whether the pace of sector recovery is impaired by airlines' financial challenges.
