Recovery in Air Passenger Demand and Resilience in Maritime Shipping

「In the airline industry, passenger demand, particularly on international routes, remains high. The favourable business environment is expected to support further growth.」

「Against this economic backdrop, passenger demand in the aviation industry, one of our group’s main business areas, remained high, particularly on international routes, resulting in a generally firm business environment. Many vessels have been forced to take longer routes, extending transport distances and voyage times, which has tightened vessel supply across the market and kept freight rates elevated.」

「In the airline industry, passenger demand, particularly on international routes, remained high. The favourable business environment is expected to support further growth. In the shipping industry, demand for maritime transport is expected to continue increasing against the backdrop of population growth and economic expansion worldwide.」

「In the aviation industry, one of our group’s business areas, air passenger demand remained firm and expanded steadily, particularly on international routes.」

「Revenue at major airlines in various countries has recovered steadily, exceeded pre-pandemic levels and begun to return to a growth trajectory. At the same time, costs in various areas are trending higher because of delays in deliveries of new aircraft caused by supply-chain problems, efforts to secure personnel and continuing environmental measures.」

「In the aviation industry, passenger demand is increasing as the sector recovers from COVID-19. However, in addition to manufacturing problems at aircraft manufacturers, shortages and delays in aircraft supply caused by labor shortages, strikes and other business challenges, external factors such as persistently high fuel prices and continuing environmental measures require close monitoring. In the shipping industry, our other business area, vessel prices, freight rates and other market conditions have generally remained firm because of the situations in the Middle East and Ukraine, and the business environment has remained favorable.」

「Air passenger demand is returning to pre-pandemic levels, with revenue at major airlines in various countries exceeding pre-pandemic levels and showing a steady recovery. LNG-carrier and tanker markets are expected to remain firm because energy import patterns in Europe have changed.」

「The aviation industry, in which our group operates, has shown a solid recovery overall, with airline performance recovering on strong passenger demand and expectations for further growth in passenger demand increasing. Airlines also continue to place orders for next-generation aircraft with superior environmental performance. However, the impact of issues such as aircraft-engine problems on airline performance needs to be monitored. In shipping, more vessels have chosen longer routes because of the deteriorating situation in the Middle East, resulting in higher freight rates across a wide range of vessel types. The effects of traffic restrictions caused by low water levels in the Panama Canal and the full-scale introduction of environmental regulations to reduce CO2 and other greenhouse gases have also been observed, and the effects of rising geopolitical risks and various regulations will continue to be monitored closely.」

「In the aviation industry, strong passenger demand has returned to levels close to those before COVID-19, and airline performance has been recovering, although costs continue to rise because of higher wages and fuel expenses. In shipping, tanker and LNG-carrier markets have remained firm on strong demand due to shortages of vessels transporting energy amid the Russia-Ukraine situation, while containership markets have remained weak because the global economy has stalled and cargo movements have declined.」

「In the aviation industry, where our group operates, costs increased because of supply-chain disruptions and higher wages, but airline performance is expected to recover on strong passenger demand. Demand is also expected to continue expanding, as large orders for new aircraft have been placed one after another. In shipping, LNG-carrier markets, which rose because of the Russia-Ukraine situation, and car-carrier markets, supported by the global expansion of electric-vehicle adoption, remained firm. Container shipping markets remained weak because of reduced cargo movements, although slower sailing and adjustments to vessel supply to meet environmental regulations are expected to provide support.」

「Air passenger demand is returning toward pre-pandemic levels as travel restrictions are eased, and the revenue of major airlines in various countries is recovering, in some cases exceeding pre-pandemic levels. In shipping, LNG-carrier and tanker markets are expected to remain firm because energy import patterns in Europe have changed in response to the Russia-Ukraine situation, while container shipping markets, which surged during the pandemic, are entering an adjustment phase. Market developments by vessel type continue to require close monitoring.」

「In the shipping industry, freight markets, which had surged during the COVID-19 pandemic, are entering an adjustment phase. While there are concerns about the effects of an economic downturn caused by global inflation, adjustments in vessel supply to address environmental regulations are expected to support freight rates, leaving the outlook for shipping markets uncertain.」

「In the aviation industry, travel restrictions have been eased mainly in Europe and the United States, and air passenger demand has been recovering rapidly. In the shipping industry, conditions are also expected to remain firm, continuing to exceed pre-pandemic levels.」