Profitable Growth mid-term outlook Q3 2023
20%
2019
0%
Market Update
Recovery curve continues to be flat with a slight uptick in Q2, albeit still below 2019 levels
Commercial Flight Activity*, indexed to 2019 levels
-20%
-40%
-60%
-80%
-100%
-120%
Jan-20
Feb-20
Mar-20
Apr-20
May-20
2020
Jun-20
Jul-20
Aug-20
Source: elaboration based on Eurocontrol/Eurostat data
(*) Commercial Flight Activity includes low-cost, mainline and regional segments
EU-27
2021
Sep-20
Oct-20
Nov-20
Dec-20
Jan-21
Feb-21
Mar-21
Apr-21
May-21
Jun-21
Jul-21
Aug-21
Sep-21
Oct-21
Nov-21
Dec-21
Jan-22
Feb-22
Mar-22
Apr-22
May-22
Jun-22
Jul-22
Aug-22
Sep-22
Oct-22
Nov-22
Dec-22
Jan-23
Feb-23
Mar-23
Apr-23
UK
2022
2023
May-23
Jun-23
eurostat
EUROCONTROL
-10%
-17%
Flattening curve from
June 2022 onwards
Capacity disruptions,
rising fuel prices and
deteriorating economic
outlook continue to
weigh on recovery
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