航空运输2021年度报告-96页

AIR TRANSPORT ANNUAL REPORT 2021 Transport Global Practice TABLE OF CONTENTS FOREWORD 2 3 4 5 7 ABBREVIATIONS ACKNOWLEDGEMENTS OVERVIEW PORTFOLIO IBRD & IDA PROJECTS IFC PROJECTS 9 63 75 77 MIGA PROJECTS KNOWLEDGE INTERNAL SERVICES EXTERNAL RELATIONS COMMUNITY SERVICE OUTLOOK 85 86 87 88 FINANCING SAFE, AFFORDABLE, AND SUSTAINABLE AIR TRANSPORT WITH PRIVATE SECTOR PARTICIPATION After the devastating impact of the COVID-19 pandemic during FY20, air transportation initiated in FY21 the process of a slow, but uneven recovery around the world. However, international passenger demand in 2021 remained 75.5% below 2019 levels, while capacity (ASK) declined to 65.3% and the global load factor fell 24.0 percentage points to 58.0% compared to 2019. The domestic markets experienced the strongest improvements in 2021 resulting in a recovery to only 28.2% below their 2019 level, primarily in the US and in China. In terms of regional differences, international traffic in the Asia-Pacific shrank 93.2% in 2021 compared to 2019, which was the deepest decline for any region. In comparison to 2019, ca- pacity was down 84.9%, and the load factor fell 44.3 percentage points to 36.5%. This was fol- lowed by the passenger volumes in the Middle East in 2021, which remained 71.6% below 2019. Their annual capacity fell 57.7%, and their load factor dropped 25.1 percentage points to 51.1%. European markets suffered a 67.6% traffic decline in 2021 versus 2019, while capacity was reduced to 57.4% with a load factor decrease of 20.6 percentage points to 65.0%. Latin American airlines experienced a 66.9% traffic decline compared to 2019 and capacity fell 62.2%, with a load factor dropping 10.2 percentage points to 72.6%, albeit the highest among all regions. North American airlines’ traffic declined by 65.6% compared to 2019, capacity dropped 52.0%, and their load factor sank 23.8 percentage points to 60.2%. Finally, the best performance among all regions was achieved by African carriers, which experienced a drop in international traffic of 65.2% compared to 2019, while capacity was reduced by 56.7%, with load factors shrinking by 14.1 percentage points to 57.3%. However, in terms of passenger traffic market shares by region, North America leads with 32.6%, followed by Asia-Pacific at 27.5%, Europe at 24.9%, the Middle East at 6.5%, Latin America at 6.5%, and Africa at 1.9%. In con- clusion, the impact of COVID-19 resulted in a 40% decline in airline capacity in 2021, with 2.2 billion fewer passengers flown than in 2019, creating revenue losses of USD 324 billion and a net loss of USD 51.8 billion . The prolonged impact of the pandemic drove many airlines into a difficult financial situation and, without state aid, to bankruptcy and possible liquidation. By 2021, over USD 200 billion have been provided to airlines in 87 countries. While the largest share went to US carriers (USD 93 billion), followed by Europe (USD 55 billion), and Asia-Pacific (USD 43 billion), many operators in developing countries received little or no support. However, some developing countries, which provided aid to their airlines, often did this at a high public expense. For example, Fiji granted financial aid in 2021 representing 7.27% of its GDP, followed by Cape Verde (7.04%), Mauritius (4.63%), and Vanuatu (2.47%). Of state aid provided globally since the start of the pandemic, 48% consisted of debt and 52% of grants and capital injections. After a sharp drop in cargo ton-kilometers (CTKs) in the first quarter of 2020, the global air car- go market recovered well in 2021, with CTKs approximately 5% higher than the pre-crisis peak in August 2018. The demand for air cargo was initially driven by protective personal equipment and medications, followed by challenges in the ocean-shipping supply chain and a strong growth in e-commerce sales. Furthermore, capacity of air cargo fell with the number of ground- ed passenger planes, which belly cargo typically accounts for 54% of world air cargo capacity. Finally, the gap between supply and demand resulted in air cargo yields rising by 40% in 2020 and 15% in 2021. While cargo yields may