1/27, 10:50 AM (Source: TeleTrader)
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Future of aviation is on the line without govt support - ACI

The Airports Council International (ACI) World said on Wednesday that government policy support and assistance are necessary in order for the industry not to face collapse.

According to the report, the industry's recovery in 2021 will be slow and uncertain as the global airport industry experienced a decrease of over 6 billion passengers by the end of 2020, representing a fall of 64.2% of global passenger traffic, with a reduction in revenue of $111.8 billion.

"While markets with significant domestic traffic are not expected to recover to pre-COVID-19 levels before 2023, markets with a significant share of international traffic will recover much more slowly," the report said and added that China is expected to become the largest passenger market in 2031 while the US and India will follow.

Breaking the News / TF