Omicron presents downside risk for global air traffic recovery, Fitch says

By Ovunc Kutlu

ANKARA (AA) - The new coronavirus variant omicron presents a risk for global air traffic recovery, according to Fitch Ratings.

New and highly contagious COVID-19 variants such as omicron indicate that air traffic operating conditions remain volatile, the global rating agency said in a statement late Tuesday. "While it is too early to assess the effects of the omicron, additional waves of infections and policy responses could lead to travel restrictions and stalled or temporary declines in traffic.”

The agency lowered its forecast for global revenue passenger kilometers (RPK) for this year and the next.

It expects global RPKs to come in at 55% below pre-pandemic levels for 2021 and 30% in 2022.

Previous forecasts showed a decline of 35% and 15%, respectively, from 2019 pre-pandemic levels.