01 Jan ‘20 23 Feb ‘20 16 Apr ‘20 08 Jun ‘20 31 Jul ‘20 22 Sep ‘20 14 Nov ‘20 06 Jan ‘21 28 Feb ‘21 22 Apr ‘21 14 Jun ‘21 06 Aug ‘21 28 Sep ‘21 20 Nov ‘21 12 Jan ‘22 06 Mac ‘21 -100% -80% -60% -40% -20% 0% 20% 40% Africa Asia/Pasific Europe Latin America/Caribbean Middle East North America Comparison of Total Seat Capacity by Region (7-Day Average, YOY Compared to 2019) Source: ICAO 0 200 400 600 800 1,000 Africa Asia/Pacific Middle East North America Latin America/ Caribbean Europe 2021 2020 2019 Europe 56% vs. 46% Africa 6% vs. 4% Asia/Pacific 9% vs. 27% Middle East 9% vs. 8% North America 10% vs. 9% Latin America/Caribbean 10% vs. 6% Recovery of air travel has not been the same throughout the world, with Asia Pacific currently lagging behind North America, Latin America, Africa, Europe and the Middle East. Other than the financial loss sustained from grounding of aircraft, airlines will face higher maintenance costs when aircraft are put back into service. At the same time, having laid off pilots and cabin crew, they will need to ensure they are able to attract these critical talents relatively quickly once operations start up again as industry experts predict a V-shaped recovery. In terms of international travel, Europe accounted for 56% of the total market in 2021, with Asia Pacific and the Middle East accounting for 9% each. 1. https://www.icao.int/sustainability/Documents/Covid-19/ICAO_coronavirus_Econ_Impact.pdf Source Number of International Passengers by Region (2019-2020-2021, Based on from/to State) Source: ICAO C R E A T I N G S U S T A I N A B L E V A L U E A N N U A L R E P O R T 2 0 2 1 0 5 9
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