2020 was the most challenging year the aviation sector has ever faced. This year's Aviation Industry Leaders Report 2021: Route to Recovery, produced in collaboration with Airline Economics, takes an in-depth look at both the impact on the industry to date, and perspectives on what's next. The report captures the views of industry leaders across the leasing, airline and banking markets and includes input from rating agencies and analysts covering the sector.
Our report last year focused on the unprecedented supercycle of growth in aviation, with a record tenth consecutive year of global airline profitability and the fifth highest level of profits recorded. There was an acknowledgement that the cycle had peaked, that there were material headwinds facing the sector, but also a general belief that any regression would be measured, barring an unforeseen black swan event. Little did we know the size of the incoming swan.
The report explores the following areas – with commentary from global industry leaders:
The health and social impact of COVID-19 has been devastating. We pass on our deepest sympathies to those who have been so severely impacted by the crisis. We all now hope for the vaccines to deliver a brighter future.
The resilience shown by the industry in the face of such significant challenges has been extremely impressive. More difficulties lie ahead, but most of the participants for this report remained optimistic that air travel will recover and that the vaccine will hopefully be pivotal in driving a faster recovery than anticipated.