Renta 4 | December traffic levels were only slightly below pre-pandemic levels and were also slightly better than in previous months. Passengers reached 17.9 million in the month, in line with forecasts, only 2% below 2019 levels, allowing us to reach the annual figure of 243.6 million passengers (11.5% below 2019’s figures, aligned with forecasts). Domestic passengers totalled 3.8% below 2019 and international passengers remain at 15% down on an annual basis.
Flight numbers are 6% below pre-pandemic levels, with cargo volumes down 15% on 2019 levels.
Assessment: Traffic levels continue to recover, in line with forecasts. Key will be the levels reached in 2023, where, according to forecasts, traffic is expected to be 8% below 2019 levels. It remains to be seen if the relaxation of Covid restrictions in China allows an upward revision as we observe the evolution during the first months of the year.
