Carriers across the board cashed in on a historic summer, announcing record profits, bumper dividends and a string of aircraft orders. So-called ‘pent up demand’ — referring to holidaymakers desire for travel post-lockdown — stole the show despite a chaotic summer of disruption, which included a monumental slip-up at the UK’s National Air Traffic Services (NATS), European wildfires and continued airspace issues across the continent. Ryanair chief Michael O’Leary’s furious tirade against NATS in a commons committee hearing summed up the thoughts of the entire sector on the UK’s air traffic system. Wildfires, war in the Ukraine and Middle East and air traffic control strikes in Europe can’t be legislated for. The sector is famously volatile, with thin profit margins and return on capital.

Source: The North Africa Journal December 30, 2023 22:23 UTC