Global air traffic volumes are expected to remain resilient in 2026, said Fitch Ratings in a report yesterday (December 16).
The ratings agency said this outlook is “underpinned by robust middle-class demand, strong leisure and short-haul flows, and steady expansion by low-cost carriers into unserved markets that support secondary airports".
While demand is expected to remain robust, geopolitical tensions may introduce regional volatility.
The regional trends vary, with Fitch noting that North American airport volumes are expected to grow modestly, though external will moderate growth from current levels.
In Europe, modest tariff increases and resilient retail revenue are expected to support mid-to-low single-digit revenue growth.
Asia-Pacific demand is forecast to remain strong due to rising travel from emerging markets.
Latin America growth is expected to be more modest, aligned with regional economic trends, and uneven across markets and passenger segments.
Fitch warned that geopolitical conflicts and macroeconomic softening could dampen discretionary spending, particularly on long-haul travel, and operational disruptions such as air traffic control staffing shortages could create volatility in peak seasons.
Additionally, aircraft delivery delays and infrastructure constraints at key hubs could impact performance.