2023-04-29 19:00:00
In an article, Bloomberg Agency dealt with the issue of air travel from its various angles, whether related to ticket prices or the aviation industry in general.
Bloomberg attributed one of the important factors in the rise in air ticket prices to the shortage in the number of aircraft that resulted from airlines having to store increasing numbers of their planes during the years of the Corona pandemic due to the weak demand for air travel, noting that today, with the almost disappearance of the pandemic, you find The airlines themselves are unable to put their planes back into service, especially since returning a huge aircraft to service requires 100 hours of maintenance and preparation work.
And the agency indicated that the other main factor is the willingness of consumers to pay high prices for tickets following being denied travel for nearly 3 years of the pandemic. And the agency quotes the president of “Ryaner” airline, Michael O’Leary, as saying, “It is likely that the price of airline tickets will continue to rise for several years to come.”
She pointed out that the pandemic caused huge losses to airlines, amounting to regarding $ 200 billion, in addition to the loss of tens of millions of jobs in the industry, and many trained workers resorted to other, more stable jobs.
While this led to significant delays in the services provided to passengers, it forced airlines to attract new workers by offering higher salaries, which forced these companies to increase their ticket prices in order to maintain their profitability.
Bloomberg indicated that the rise in oil prices contributes greatly to the rise in the cost of air travel, noting that it is still more than 50 percent higher than its level in January 2019.
And since many airlines do not hedge once morest high fuel prices, this makes them vulnerable to unexpected price increases as a result of events such as the war in Ukraine, while “sustainable” aviation fuel costs up to 5 times more than regular aviation fuel.
The report quotes the International Air Transport Association that airlines must pay $ 2 trillion in order to get rid of carbon in their fuel by 2050, which arranges additional costs that must be covered by raising ticket prices.
The report pointed out that some of the new technologies being studied, such as aircraft powered by hydrogen or electricity, are still in the research stages and will be very expensive, in addition to the fact that 16 thousand aircraft, or regarding two-thirds of the global commercial fleet, were put out of service at the peak pandemic.
And “Bloomberg” stated that returning it to service is a huge task that requires checking every part of the plane to ensure its safety, noting that the aircraft factories are no longer able to meet the increasing demand for new planes, due to reasons including the sanctions on Russia, which made it more difficult for major factories such as « Boeing and Airbus on raw materials such as titanium, which led to a significant increase in spare parts prices.
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