Airline passenger volumes in several key Asia-Pacific (APAC) markets are expected to remain well below the 2019 level in 2021, according to Fitch Ratings – despite a current recovery.
The speed of the recovery will depend on the extent to which the individual markets succeed in bringing the coronavirus pandemic under control, according to the experts. Another decisive factor will be the extent to which the airlines can strengthen passenger confidence and reduce the risk of further travel restrictions.
Fitch Ratings’ forecasts are based on the assumption that a vaccine or treatment will not be available on a large scale in 2021, but that progress will be made in combating the pandemic. Airline passenger volumes could improve faster than predicted if an effective vaccine is distributed earlier than Fitch believes. Or if there is greater success in containing the pandemic. However, the rating experts expect demand to stagnate in 2021, well below the 2019 base, if there is only limited progress in the fight against the pandemic.
Read more at Fitchratings.com