The suggestion of returning to pre-COVID levels is “becoming obsolete” and the aviation industry should update its focus from recovery to future growth, said MUFG’s Global Aviation Finance Office (GAFO) in its 2024 projections update. It added that the notion of revenge travel has become less relevant for 2024 as most airline customers have “managed to clock up some airmiles in the last few years”. GAFO found that most regions had recovered by 2023 and expected the APAC region to recover fully in 2024, with particular regard to China reopening following strict pandemic restrictions being dismantled. The report added: “Leisure

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