International Business: Singapore Airshow returns under shadow of slow aviation recovery – Gulf Digital News

International Business: Singapore Airshow returns under shadow of slow aviation recovery – Gulf Digital News

SINGAPORE: The Asia-Pacific aviation industry’s slow recovery from the pandemic amid government restrictions will cast a shadow over the Singapore Airshow next week, despite signs of improvement as concerns over the Omicron variant recede.

The biennial event has bookended the pandemic, with the 2020 edition disrupted by the virus emerging from China and the latest show coming as the industry attempts to plot a way out of what became its biggest and most costly crisis.

International passenger travel in the region was down 93 per cent from pre-pandemic levels last year, leaving airlines heavily reliant on freight for revenue, and the Chinese outbound tourism market remains closed.

But there are signs of a rebound this year, Skyscanner booking data shows, as countries such as Singapore, Thailand, the Philippines, Vietnam and Australia reopen to more vaccinated tourists without quarantine.

The head of Finnair, which specialises in serving Asia from its Nordic hub, expressed optimism about a return towards normal business later this year.

Military demand is also picking up as regional economies recover from pandemic-induced slumps and countries look to bolster their capabilities, as highlighted by Indonesia’s $8.1 billion order for 42 Rafale fighter jets on Thursday.