AIRLINES I m p a c t o f C o v i d - 1 9 When the pandemic broke out in March 2020, it was crippling for airlines the world over, as not only were entire fleets grounded but there was no clarity on how long the pandemic would last nor the extent of its impact. In April 2020, international air travel came to a virtual halt. From July 2020, domestic travel started to recover, albeit in a jagged manner; however, as at January 2022, international operations are still only at about a-third of pre-Covid levels. In Asean, international borders started opening very tentatively only towards end 2021. According to the International Civil Aviation Organization (ICAO), the number of passengers carried globally dropped by 60% in 2020 from 2019, and by 49% in 2021 from 2019. This translates into an overall reduction of 2,703 million passengers in 2020 (compared to 2019), and 2,201 million passengers in 2021 (compared to 2019). 1945 1946 1947 1948 1949 1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Covid-19 pandemic Number of Passengers Carried (million) - 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 5,000 Financial crisis SARS 9/11 terrorist attack Asian crisis Gulf crisis Iran-Iraq war Oil crisis Total passengers Domestic passengers International passengers Decline in world total passengers 2022 vs. 2019 -27% to -32% 2021 vs. 2019 -49% 2020 vs. 2019 -60% Passenger Numbers (million) 0 50 100 150 200 250 300 350 400 450 Jan 2020 Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan 2021 Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan 2022 Feb International Domestic 2019 total Global Monthly Passenger Numbers in 2020-2021 vs. 2019 Source: ICAO estimates World Passenger Traffic Evolution 1945-2022 Source: ICAO 0 5 8 C A P I T A L A B E R H A D Our Operating Environment
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