European airports trade body ACI Europe has released a revised passenger traffic forecast for the European airport network, showing passenger volumes in 2023 are set to fall -9% below 2019 levels.
As a result, a full recovery has now been pushed back to 2025 – rather than 2024 as previously forecast in May 2022.
ACI predicted continued geopolitical tensions and the war in Ukraine will keep impacting several national markets and dominate downside risks.
Deteriorating macro-economics and inflationary pressures are also set to weigh on demand, with air fares having increased sharply throughout Q3 and Q4 20221.
