Middle East Airlines Recovers with a 30.8% Surge in Air Traffic

Middle East airlines are at the forefront of the aviation industry’s resurgence post-Covid, as they witness a significant bounce-back in passenger numbers. According to the International Air Transport Association (IATA), air traffic in the Middle East soared by 30.8% in May compared to the previous year, with the region now surpassing 2019 levels by 17.2%. The capacity of Middle East airlines increased by 25%, resulting in a rise in load factor to 80.2%.

Globally, air traffic in May saw a remarkable 39.1% surge, demonstrating a strong recovery. As travel demand continues to rebound, airlines worldwide are projected to achieve a net profit of $9.8 billion in 2023, signalling a positive trajectory for the industry. However, sustaining profitability remains a challenge, with the average net profit margin per departing passenger currently at $2.25, highlighting the need for long-term viability and financial stability in the aviation sector.

Global air traffic exhibited a remarkable recovery in May, surging by 39.1% compared to the same period in 2022. Encouragingly, traffic levels have now reached 96.1% of May 2019, signalling a significant rebound to pre-pandemic levels. Domestic travel experienced a substantial uptick, with a 36.4% increase compared to the previous year.

Notably, domestic traffic in May 2023 surpassed May 2019 levels by 5.3%, marking the second consecutive month of surpassing pre-pandemic figures. International travel also saw a robust rebound, with a 40.9% surge compared to May 2022, driven by strong growth in all markets, particularly in the Asia-Pacific region. Willie Walsh, Director General of IATA, expressed optimism as planes operated at high load factors, averaging 81.8%, while domestic markets demonstrated growth on par with pre-pandemic levels.