L’International Air Transport Association (IATA) has released data showing that travelers in Europe benefit from airfares below inflationwhile passenger traffic continues to increasepost-Covid eprise.
According to the latest figures from IATA, passenger traffic in Europe is only down 3.6% compared to the peak of 2019. Europeans are traveling despite the inflationary context: in June, average prices of plane tickets in Europe were approximately 16% higher than before the pandemic. However, this figure is lower than theaverage consumer price index of the EU, which in June amounted to 20% compared to before the pandemic.
“ European air transport continues to recover strongly and is on track to exceed the 2019 baseline in 2024. The competitiveness of the European air transport market keeps airfare inflation at 16%, four percentage points below increases we saw over the last quarter. general consumer price index. Given the extreme volatility of jet fuel prices and rising labor wages, this is a significant achievement that contrasts with the ever-increasing tariffs imposed by our infrastructure providers said Willie Walsh, Director General of IATA.
“ The regulators (from European aviation, editor’s note) play a crucial role in creating the conditions in which competition between airlines has been able to flourish. European regulators can take credit for implementing light-touch consumer regulation, which has allowed airlines to create considerable choice and flexibility for consumers by unbundling package travel. And European slot regulations have created a balance between consistent schedules while increasing accessibility for new airlines “, explained IATA in its report released this week at the Wings of Change Europe (WOCE) summit in Amsterdam.
According to IATA, regulators could further improve competitive conditions. Two key areas are: tighter regulation of monopolistic infrastructure providers, to reduce tariffs; and a reform of the EU261 consumer protection regulation, to ensure a more consistent application of its objectives and a fairer sharing of responsibilities throughout the aviation value chain.
“ The recovery of the European air transport market is leading to even more competitive market conditions. Consumers will see this with more routes and more airlines to choose from. In total, last year, 20 new airlines were created in Europe. This is important because a more competitive air transport market will make Europe a more competitive place to do business », concluded Willie Walsh.