Dublin-based aircraft leasing company Avolon has published its annual outlook paper for 2022, which is titled "Rise Above" and co-authored by head of portfolio management Jim Morrison and head of counterparty risk Rosemarie O'Leary.
A statement published on avolon.aero said that the paper reviews key aviation industry trends for airlines, manufacturers and lessors, and identifies themes that will shape 2022, setting out Avolon's "fearless forecasts" for this year.
According to the statement published on avolon.aero, said "fearless forecasts" are:
- international air traffic recovery this year will mirror domestic air traffic recovery last year;
- operational challenges will limit the growth of aviation;
- cargo will bring airlines to profits;
- lessors' share of the large commercial aircraft fleet will exceed 50%;
- full-scale prototypes of 10 all-electric aircraft will take off;
- the outlook for 2030 SAF production will increase fourfold as projects are funded this year;
- and the price of carbon credits will increase twofold.
Jim Morrison Statement
The statement published on avolon.aero included a statement from Morrison, in which he said, "Looking ahead, the strong economic growth forecast for 2022 will drive a further recovery in demand for air travel. While we are confident in recovery, it will be a gradual and uneven recovery that will vary region-by-region. In 2022, a strong recovery in international air traffic will follow the domestic air travel rebound of 2021, bouncing back to 70% of 2019-levels by year-end."
Rosemarie O'Leary Statement
The statement published on avolon.aero also included a statement from O'Leary, in which she said, "Aircraft lessors will continue to be an integral part of the recovery, supporting airlines as they seek to restore their balance sheets, re-fleet, and grow."
O'Leary added, "Beyond the recovery, environmental considerations will remain central to the aviation agenda for the period ahead."
© 2022 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.