With global aviation passenger numbers rebounding, emerging markets are looking to capture market share through increased investment and sustainable aviation fuels (SAFs).
- Apr 06, 2023, 12:00 PM CDTEmerging markets launch new airlines to boost status as global aviation centres.New emissions regulations present opportunities for sustainable fuel production.
In the Asia-Pacific region, the easing of Covid-19 restrictions in China in spring 2023 is expected to boost aviation activity, although the region may not see profitability until 2024. In addition to supporting tourism activity and diversification – the Kingdom is targeting 100m international visitors annually by 2030 – the new airline could help Saudi Arabia’s aviation sector compete with regional heavyweights. Riyadh Air operations are expected to create 200,000 jobs and generate $20bn in non-hydrocarbons revenue.
Air cargo prices have remained relatively competitive compared to maritime cargo since mid-2021, and the segment is likely to remain a key source of revenue in the medium term.
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