Huanshi Finance
-HUANSHICAIJING-
According to the Civil Aviation Administration of China on the 4th, in 2023, the civil aviation industry will complete a total transportation turnover of 118.83 billion ton-kilometers, 620 million passenger traffic, and 7.354 million tons of cargo and mail transportation, an increase of 98.3%, 146.1%, and 21% year-on-year, respectively, and recover to 91.9%, 93.9%, and 97.6% in 2019, respectively.
The 2024 National Civil Aviation Work Conference held in Beijing on the 4th pointed out that civil aviation will strengthen international cooperation in 2024 and promote the accelerated recovery of the international market. Civil aviation will implement the outcomes of the China-US summit and promote a substantial increase in direct flights between China and the United States; actively expand air traffic rights arrangements with countries jointly built by the Belt and Road Initiative, and deepen project cooperation with Central Asia, the Middle East, Africa and other regions; improve the efficiency of the use of existing third and fourth air traffic rights resources, and support airlines to make good use of the fifth overseas air traffic rights according to the needs of route network expansion; promote the optimization of visa and entry and exit policies, improve the level of customs clearance facilitation, and improve the efficiency of international flight entry and exit.
The rapid recovery of China's civil aviation industry also reflects the recovery trend of the global industry. The International Air Transport Association (IATA) recently predicted that 4.7 billion people will travel in 2024, a record high. IATA also expects cargo volumes to be 58 million tonnes in 2023 and 61 million tonnes in 2024.
Zhang Ying, head of the CADAS Shanghai team of Feiyou Technology, said in an interview with the Global Times that the development of national aviation has returned to natural growth, and it is expected that China's civil aviation will enter a new round of development cycle. In the future, the recovery of the international market will become the focus, and the recovery of markets such as the Asia-Pacific region and the "Belt and Road" countries may be the main force for the recovery of international flights.
While the global aviation industry is gradually recovering from the pandemic, the Asia-Pacific region still faces challenges. Hong Kong's South China Morning Post recently said that the factors hindering the industry's recovery include slower border reopening, flight disruptions, delays in aircraft deliveries, shortages of spare parts in existing fleets, and severe shortages of professional aviation labor.
During the epidemic, there was a significant loss of pilots, ground crew, and crew. It can take 3-4 years to train new pilots. Oliver Wyman, an aviation management consultancy, forecasts that between 2022 and 2024, demand for pilots will outstrip supply in most regions, creating challenges for further growth in the aviation industry.
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Source | Global Times
Audit | Yang Shasha
Edit | Ren Xiaonan
Proofreading | Wang Dong