The International Civil Aviation Organization (ICAO) has published a report on the economic impact of the Covid-19 pandemic on the aviation industry.
The impact of the virus on global scheduled passenger travel in 2020 (estimated and actual) compared to 2019 levels resulted in an overall reduction in the number of seats offered by airlines by 50%; an overall reduction of 2,703 million passengers (-60%); and the loss of approximately $372 billion in gross airline passenger revenues.
The impact of Covid-19 on global scheduled passenger travel in 2021 (preliminary estimates) compared to 2019 levels has resulted in a 40% global reduction in seats offered by airlines; an overall reduction of 2,203 million passengers (-49%) and a loss of approximately $324 billion in gross airline passenger revenue.
The impact of Covid-19 on global scheduled passenger travel in 2022 (estimated actual results) compared to 2019 levels is expected to result in an overall reduction in airline seat availability of 20-23%, i.e. to 1,393 million passengers (from -26% to -31%), resulting in a loss of approximately $186 billion to $217 billion in gross airline revenue from passenger air travel.