Are you still going camping or are you flying again? Demand for air travel plummeted with the Corona pandemic and rising ticket prices. Now, despite inflation, it is rising significantly and gradually approaching pre-pandemic levels. Rising airfares and falling operating costs due to lower kerosene prices are helping airlines return to profitability, according to a recent study by Allianz Trade, the world's leading credit insurer.
"People want to travel again, and they want to fly again. This is good news for airlines: after three years of losses, the airline industry could return to profitability in 2023 – that's earlier than expected," says Milo Bogaerts, CEO of Allianz Trade in Germany, Austria and Switzerland. "However, the lack of capacity remains the bottleneck. This is likely to slow down the airlines' ascent to new heights for the time being. For consumers, it also means that flying is likely to remain expensive."