The coronavirus pandemic resulted in a decrease of about $125 billion in airport revenue for 2020. Last year, 2020 marked the end of a decade of harmonious growth in global passenger traffic, said the Airports council international (ACI) in a statement. The coronavirus pandemic brought airports and airlines to a halt starting in the early stages of last year. Since then, some countries’ airlines and airports have reopened, others have had travel bubbles, but a lot of them remain with heavy travel restrictions. Therefore, the whole aviation industry chain has been deeply affected by the pandemic.
According to Airports council international (ACI), the airports of the world lost about 6.1 billion passengers in 2020. Instead of having over 9.4 billion passengers as it was projected before the coronavirus outbreak which leads to a huge decrement in Airport revenue in 2020, the world’s hubs only received 3.3 billion passengers.
In January, the International Civil Aviation Organization (ICAO) noted that the Coronavirus pandemic brought air travel numbers to 2003 levels.
For 2021, the airport situation looks a little bit better, but just barely. The projected baseline was 9.8 billion passengers this year. Currently, ACI expects airports will receive about 5.1 billion travelers. That’s 4.7 billion fewer passengers.
During the early stages of 2021, ACI expects signs of improvement compared to the last three months of last year. However, as the vaccination distribution and uptake increases, more passengers are likely to begin traveling. The Airport Council expects a significant increase in travel by the end of 2021, mainly with leisure travel.
The coronavirus pandemic has damaged airport finances all over the world. As traffic declined, airports’ ability to generate revenues decreased proportionally, ACI said.
In 2020, the airport industry was expected to generate about $188 billion but the impact of the coronavirus pandemic created a 66.3% reduction in airport revenues. Therefore, the Airport industry worldwide lost about $125 billion in expected gains.
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