The European Organization for the Safety of Air Navigation (Eurocontrol) has suggested that Ukraine's airspace, which was closed on February 24, 2022, might not be reopened by 2029, Interfax reports.
Ukrainian media reported with reference to a forecast for 2023-2029 published on Eurocontrol's website that restrictions on Russian, Belarusian, and Moldovan airspaces are also expected to remain in place until the end of 2029.
The forecast views "higher inflation" and "greater uncertainty" among key risks for the airline industry. "A longer period of conflict with bigger disruptions to energy markets would translate into a bigger hit to the global economic expansion," it says.
Eurocontrol also listed an uncertain oil price outlook and the lack of available refining capacity among risks to the industry.
The organization expects that, after the number of flights performed in Europe by 44 of its members dropped to 5 million in 2020 and 6.2 million in 2021, it should increase to 10.3 million in 2023 and 11.8 million in 2029, in line with the base scenario.
