Global Air Passenger Slump to Last Until 2023, Moody’s Says
- Airline industry disproportionately affected by coronavirus
- Effective vaccine for virus unlikely before well into 2021
Photographer: Justin Sullivan/Getty Images
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Global airline passenger demand won’t recover to pre-coronavirus pandemic levels until the end of 2023, and only then if effective vaccines and medicines are available, according to Moody’s Investors Service.
The recovery for airlines and airports will be largely aligned, followed by aircraft lessors as carriers return fleets to service, Moody’s analysts including Jonathan Root wrote in a report. Manufacturers such as Boeing Co. and Airbus SE will be the last in the direct aviation industry to regain their 2019 footing, they wrote.