Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

Aviation recovery fuelled by Gen Z and frequent flyers

Published 11/01/2024, 13:55
Updated 11/01/2024, 14:11
© Reuters.  Aviation recovery fuelled by Gen Z and frequent flyers
EZJ
-
0RYA
-
WIZZ
-

Proactive Investors - Aviation's post-pandemic boom has been fuelled by a rising proportion of younger people taking trips, alongside those flying regularly, industry research revealed on Thursday.

Almost two-thirds of those aged between 18 and 35 in the UK flew in the year to October 2023, joined by less than half of those aged over 55, the Civil Aviation Authority (CAA) said in a report.

This marks a shifting trend in those flying since the pandemic, with 55% of 18 to 35 year olds having flown in 2019, alongside 58% from the 55-plus bracket.

According to the regulator, older people were less likely to travel due to concerns over Covid-19, flight disruption, other health issues or even a general dislike of airports.

Younger people choosing not to fly generally cited budget concerns after costs rocketed over the year, meanwhile.

Frequent flyers also boosted passenger traffic, the CAA said.

Just 29% of those who flew during the year only did so once from the UK, the research also found, while a hefty 70% took multiple trips.

This was up on 33% and 66% respectively prior to 2019, with the CAA commenting that those who flew in 2023 were now more likely than ever to have flown again within a year.

In total, over half - 54% - of all UK adults flew at least once over the year, marking a return to pre-pandemic levels.

Short-haul airlines in particular have enjoyed a strong resurgence in demand since pandemic restrictions were eased, with the likes of Ryanair (LON:0RYA) Holdings PLC (LSE:RYA) and Wizz Air Holdings PLC (AIM:LON:WIZZ) having reported record monthly traffic stats over the year.

Rival budget carrier easyJet (LON:EZJ) also reported record summer trading during the year, attributing strong demand to low costs..

Read more on Proactive Investors UK

Disclaimer

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.