My previsions confirmed? The last Gadget Report of January spoke about my previsions about what could be 2023 for the aviation industry. Because that was just a personal view I even challenged myself to revisit the video at end of the year, so I can confirm or deny those previsions. A few days later, I started my research for February’s articles and videos and I found this article on Australian Aviation, although was written a few days before my video being released I had no knowledge of it and it seems to have a similar opinion. So are my previsions confirmed?
Australian Aviation’s article
The article predicts a boom for Australian Aviation, mainly to due the reopening of the Chinese and Japanese borders. The article also says that according to the Australian Bureau of Statistics, travelling has returned to its pre-pandemic level in 2019.
The article also touches on the issue of pricing and it also predicts a drop in pricing. The fact that there will be more flights in the sky will eventually lead to that. Also, the ACCC will keep an eye on airlines to make sure there are no unnecessary increases, although the article also says they still believe airlines will continue to struggle and that will also affect pricing.
As I said in my Gadget Report last month, I also believe 2023 will be a great year for aviation, not just in Australia but worldwide. With borders open and people eager to travel, there will be an increase in both offer and demand and that, in my view, will ultimately lead to a stabilisation of the market.
The current situation with airlines will without a doubt influence their results and the prices they charge, but they will also be looking at the demand and if the prices are too high that demand will suffer. So they need to balance it out. Attracting more passengers with more competitive prices may be the solution to reach the desperately needed profitability in 2023. My challenge still stands, I will revisit my Gadget Report in December this year and I will also revisit this article and confirm or deny if the article was indeed my provisions confirmed!