1、Global Outlook for Air Transport Deep ChangeJune 20242 Global Outlook for Air Transport Deep ChangeContentsGlobal Outlook for Air Transport:Deep Change 3Main takeaways 31.Deep Change 4Climate change 4The oil and gas industry and renewable energy 5Geopolitics 5Superpower 6The global economy 72.Traffi

2、ctoreachanall-timehigh9Air passenger traffic 9 Recent developments and outlook 9 Traffic,connectivity,and contribution to the wider economy 11Air cargo traffic 123.Airlinefinancialperformance14Revenue developments 15Cost developments 17 Cost of capital 17 Aircraft and Ownership 18 Labor 19 Fuel 19Re

3、gions 20Appendix:IndustryStatistics223 Global Outlook for Air Transport Deep ChangeGlobal Outlook for Air Transport Deep ChangeMain takeaways The year 2024 is unusually challenging,notably because 4.2 billion persons,a majority of the worlds population,will go to the polls in as many as 70 countries

4、 an unprecedented occurrence.Many of the elections will take place in a polarized setting and many will be less than free.Policies could change significantly,and weaken our global capacity to address systemic problems,and to deliver economic growth and improved welfare for all.This will likely take

5、place against a backdrop of still very tight labor markets,in turn contributing to prices being sticky and inflation taking longer to drop within central banks target range.Policy interest rates will therefore not fall as rapidly or by as much as many might expect in 2024.Higher for longer policy in

6、terest rates in the US will keep the appreciating bias in the US dollar against most other currencies a feature that is of course growth-dampening for most countries and which adds costs to all USD-denominated debt and invoices for non-USD based businesses.For airlines,this of course adds to the alr