Global airports are forecast to absorb a $111.8 billion hit to revenues in 2020 due to the torturous impacts of Covid-19, Airports Council International (ACI) World has updated.

A fifth economic analysis undertaken by the voice of the world’s airports reveals the industry had expected to accrue around $172 billion this year.

Passenger numbers are projected to drop by more than six billion (-64.2%) by the end of December (versus the pre-Covid forecast for 2020), with Europe and the Middle East tipped to register declines above -70% versus the projected baseline.

While enjoying a swifter recovery than other regions, Asia Pacific’s airports are still estimated to close 2020 with a decline of -59.2%.

As reported, ACI has said that international passenger traffic is not expected to recover to 2019 levels until 2024 at the earliest.

In the first half of 2021, global passenger traffic will remain turbulent as vaccines are administered and rolled out, although volumes are forecast to reach 2.2 billion – a 20% decrease compared with the same period year-on-year.

Looking ahead, ACI says it could take up to two decades for global passenger traffic to return to previously projected levels (pre-Covid forecast).

To read the ‘ACI Advisory Bulletin: The impact of Covid-19 on the airport business’, click here.