To be sure, the International Air Transport Association (IATA) has estimated global air travel passenger volume to recover to 103% of its pre-Covid-19 levels by 2024, with the Asia Pacific (APAC) region trailing behind at 97% of its pre-Covid-19 levels in 2024.
UOB Kay Hian analyst Roy Chen has maintained his “market weight” recommendation on the Singapore aviation sector as he sees the recovery of the sector as being “well on track”.
“The consensus among aviation experts indicates that the sector is likely to recover to the pre-Covid-19 level towards end-2024 (FY2025 for Singapore-listed players),” writes Chen in his March 29 report.
