OAG notes in report that 2024 will be a year of many challenges for the airline industry

04-01-24

OAG Statistics Platform, the world's leading provider of digital flight information, intelligence and analytics for UK-based airports, airlines and travel technology companies noted that the coming year presents a multitude of developments and challenges for the global airline industry.

"The skies may present challenges, but they also offer opportunities and innovations that will shape the future of air travel," OAG noted noting that a continuation of the status quo in airfares is expected, with minor fluctuations. OAG noted that low seasons may offer some relief due to lower demand, but that underlying factors, such as rising wages and fluctuating oil prices, suggest an upward trend rather than cost savings.

"Legacy carriers, led by United Airlines, are opening new routes, potentially influencing fare dynamics," OAG noted. The statistics platform also noted that the year ahead will not be without challenges and that lingering disruptions from the previous year and global issues may affect the aviation industry. As an example of this the report noted that the Pratt & Whitney engine problem is likely to peak in 2024, which could ground up to 300 aircraft worldwide at any given time.

Recent problems with Boeing's backlog of orders add another disruption for airlines, who simply don't know when their new planes will arrive next year, which for some airlines makes planning difficult.

OAG also added that in Europe, regulators are obstructing short-haul travel with new regulations aimed at reducing carbon emissions, so new regulations have been implemented that inhibit short-haul air travel.