The reopening of China to international travel will help propel global air traffic to pre-pandemic levels by the middle of this year, according to one of the world’s largest aircraft leasing companies, even as a shortage of new jets continues to hobble the industry’s full recovery.
Avolon, the world’s second-largest jet lessor, said that after a “70 per cent recovery in passenger traffic last year led by . . . Europe and North America, Asia will drive growth in 2023, helped by the recent reopening in China”.
For every two seats of airline capacity added worldwide, one is in Asia, according to a report published by Avolon on Monday.
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