全球低成本承运市场前景及投资研究报告-培训课件外文版2024.5

INDUSTRIES

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MARKETSLow-costcarriermarketworldwideCHAPTER

01OverviewAnnualgrowthinglobalairtrafficpassengerdemandfrom2006to2022,withforecastsuntil2023Globalairtraffic-annualgrowthofpassengerdemand2006-202380%60%40%20%64.2%28.3%21.8%7.9%8%7.5%8.1%7.3%6.9%6.3%7%5.3%5.7%6%4.1%2.4%0%-20%-40%-60%-80%-1.2%-65.8%2020200620072008200920102011201220132014201520162017201820192021

2022*

2023**3Description:In2022,theglobalairtrafficpassengerdemandgrewbyover64percentcomparedtothepreviousyear,whenthepassengerdemandincreasedbynearly22percentcomparedtothelastyearwhentheannualgrowthofpassengerdemanddecreasedsharplyduetothecoronaviruspandemic.Thisfigurewasforecastedtoamountto28.3percentin2023.ReadmoreNote(s):Worldwide;2006to2022;*Estimate**ForecastFigurespriorto2019weretakenfrompreviousreports.ReadmoreSource(s):AirfinanceJournal(AirlineAnalyst);IATA;ICAO;Refinitiv;S&PGlobalPlattsTotalancillaryrevenueintheairlineindustryfrom2011to2022(inbillionU.S.dollars)Ancillaryrevenueintheairlineindustry2011-202212010080109.5102.892.982.267.465.859.258.16049.942.636.14020032.52011201220132014201520162017201820192020202120224Description:Theairlineindustryismoreandmorecontingentonancillaryrevenueasairlinesaretryingtoimprovetheiroperatingmarginswithnewsourcesofrevenue;in2019thisvalueamountedto109.5billionU.S.dollars.However,in2020,duetothecoronavirusoutbreak,ancillaryrevenuedroppedtoonly58.1billionU.S.dollars,a47percentdecreasecomparedtothepreviousyear.

ReadmoreNote(s):Worldwide;2011to2022;EstimatesSource(s):CarTrawler;IdeaWorks;OAGDistributionofairlinepassengertrafficin2022,byregion*Worldwideairpassengertrafficsharebyregion2022ShareofRPKs0%5%10%15%20%25%30%35%Asia-PacificEurope22.1%30.7%NorthAmericaMiddleEastLatinAmericaAfrica28.9%9.8%6.4%2.1%5Description:In2022,around30.7percentofairlinepassengertrafficwasoperatedbyEuropeanairlinecompanies.Meanwhile,NorthAmericaaccountedforthesecondlargestpassengertrafficshare,with28.9percent.

ReadmoreNote(s):Worldwide;2022;*Dataisbasedonrevenuepassengerkilometers.ReadmoreSource(s):IATACHAPTER

02SegmentsShareoflow-costcarriers'globalschedulecapacityfromSeptember2022toAugust2023Low-costcarriers:shareofglobalschedulecapacity2022-202340%35%35%31%30%25%20%15%10%5%27%0%FlightsSeatsASKs*7/statistics/1422483/low-cost-carriers-share-global-schedule-capacityThelow-costairlinesaccountedfor35percentofallseatsbookedinglobalairlineoperationsbetweenSeptember2022andAugust2023.Furthermore,duringthesametimeframe,31percentofallglobalairtravelwasundertakenbylow-costairlines.ReadmoreNote(s):Worldwide;September2022toAugust2023;*ASKsistheabbreviationfor'Availableseatperkilometer.'ReadmoreSource(s):OAGSelectedlow-costairlines'performancefromSeptember2022toAugust2023(inbillionavailableseatsperkilometer)Low-costcarriers:performance2022-2023,byavailableseatsperkilometer300258.79250222.58200150125.97119.77IndiGo111.44easyJet92.03Spirit10050073.5760.5457.2251.74SouthwestAirlinesRyanairJetblueWizzAirVolarisFrontierLionAir8Description:SouthwestAirlineshad258.79billionavailableseatkilometers(ASKs)betweenSeptember2022andAugust2023.ThisisthehighestnumberofASKsregisteredamonglow-costairlines.Ryanaircameinsecondplacewitharound222.6billionASKsduringthattime.ReadmoreNote(s):Worldwide;September2022toAugust2023;*ASKsistheabbreviationfor'Availableseatsperkilometer.'ReadmoreSource(s):OAGSelectedlow-costairlines'averagefleetagein2023Low-costcarriers:fleetage20231411.9121081110.56.95.763.8420SouthwestAirlinesRyanaireasyJetSpiritWizzIndiGo9Description:In2023,Southwesthadtheoldestfleetamongselectedlow-costcarriers,withafleetthatwasalmost12yearsold.Incontrast,IndiGopossessedthenewestfleetofplanes,namely3.8yearsold,incomparisontotheotherairlines.

ReadmoreNote(s):Worldwide;2023Source(s):OAGCHAPTER

03AirlinesSelectedlowcostcarriersworldwidein2022,rankedbypassengertraffic(inmillions)Selectedlowcostcarriers'passengertraffic2022Passengersinmillions600204080100120140SouthwestAirlinesRyanair126.5997IndiGo46.68SpiritAirlinesJetBlueAirwaysEasyJet38.4139.5669.7WizzAir27.1EurowingsNorwegianAirAsia16.917.824.2511Description:SouthwestAirlines,carriedapproximately126.6milliontravelersin2022,thehighesttrafficfigureamongtheotherselectedlow-costairlines.ReadmoreNote(s):Worldwide;2020Source(s):BureauofTransportationStatistics;Varioussources(companyreports)Mostpunctuallowcostcarriersworldwidein2022,rankedbyon-timeperformanceMostpunctuallowcostcarriersworldwide2022On-timearrivalperformance30%

40%

50%0%10%20%60%70%80%90%100%110%EurowingsThaiAirAsia(Thailand)JejuAirlines(Korea)95.26%92.33%91.84%AzulAirlines(Brazil)84.87%84.82%83.51%81.63%79.19%SkyAirline(Chile)IndiGo(India)VivaAirColombia(Colombia)PeachAviationLimited(Japan)NorwegianAirShuttle(Norway)JinAir(Korea)79.12%78.91%PegasusAirlines(Turkey)VolarisCostaRica(CostaRica)SpiritAirlines(USA)75.07%75.05%73.18%71.61%68.25%SouthwestAirlines(USA)FLYNAS(SaudiArabia)12Description:TheGermanlow-costcarrier(LCC),Eurowings,wastheworld'smostpunctualLCCin2022,with95.26percentofallflightsdepartinglessthan15minuteslaterthantheirscheduledtime.Thailand'sThaiAirAsiarankedsecondwith92.33percenton-timearrivalperformance.ReadmoreNote(s):WorldwideSource(s):OAGSelectedlowcostairlinesworldwidein2022,basedonrevenue(inbillionU.S.dollars)Revenueofselectedlowcostcarriersworldwide2022RevenueinbillionU.S.dollars1005152025SouthwestRyanair23.811.7JetBlue9.2easyJet6.4SpiritAirlinesEurowingsNorwegianWizzAir5.12.11.91.81.5AirAsia13Description:In2022,Southwestgeneratedthehighestrevenuecomparedtotheselectedlowcostairlines,amountingto23.8billionU.S.dollars.Ryanairachievedthesecond-largestrevenueof$11.7billionU.S.dollarsthatyear.DespitethedominanceofAmericanandEuropeancompaniesinthelowcostcarriermarket,AirAsiawasabletocatchitsrivalsin2022bygeneratingrevenueof1.5billionU.S.dollars.ReadmoreNote(s):Worldwide;2022Source(s):Varioussources(Companyreports)CHAPTER

04Regionalfocus:EuropeAnnualrevenueofRyanairfrom2010to2023(inmillioneuros)Ryanair:annualrevenue2010-202312,00010,775€10,0008,494.8€8,0006,0004,0002,00007,697.4€7,151€6,647.8€6,535.8€5,654€5,036.7€4,884€4,800.9€4,390.2€3,629.5€1,635.8€2010/112011/122012/132013/142014/152015/162016/172017/182018/192019/202020/212021/222022/2315Description:TheannualrevenueofRyanairforthefiscalyear2022/23amountedtoroughly10.78billioneuros.Fromthefinancialyears2011to2020,thebudgetairlineincreasedtheirrevenuebyroughly134percent.Theworldwidecommercialairlinemarketwasforecasttobeworth872billionU.S.dollarsby2020,butduetothecoronaviruspandemicitdroppedto382billionU.S.dollars.ReadmoreNote(s):Europe;April2010toMarch2023Source(s):RyanairNumberofpassengerstravelingwithRyanairfrom2011to2023(inmillions)NumberofpassengerscarriedbyRyanair2011-2023180160140120100169148.6142.1130.3120106.49790.681.779.375.880604020027.52011/122012/132013/142014/152015/162016/172017/182018/192019/202020/212021/222022/2316Description:Inthefiscalyearof2022/23,thenumberofpassengerstravelingwithRyanairamountedto169million,anincreaseof74percentfromthepreviousyear.Thenumberofpassengersseemtohaverecoveredtopre-COVIDlevelsaftertheimpactofCOVID-19ontheairlineindustrywithRyanair'spassengertrafficdroppingto27.5millionpassengersin2021.Summertendstobethebusiestmonths,with16.9millionpassengersupliftedinAugust2022.ReadmoreNote(s):Europe;2011to2023;financialyearendsonMarch30ofeachyear.Source(s):RyanairAnnualrevenueofeasyJetplcfrom2009to2022(inmillionGBP)EasyJetplc:annualrevenue2009-20227,0006,3855,8985,7696,0005,0004,0003,0002,0001,00005,0474,6864,6994,5274,2583,8543,4522,9733,0092,6671,4582021200920102011201220132014201520162017201820192020202217Description:In2022,EasyJetrecordedanannualrevenueofnearly5.8billionBritishpounds.Thecompany'srevenuescollapsedamidtheCOVID-19pandemicbuthaverecoveredtosimilarlevelsasrecordedpriortothepandemic.

ReadmoreNote(s):Europe;2009to2022;financialyearendsSeptember30ofeachyear.Source(s):easyJetNumberofpassengersupliftedbyEasyJetAirlineCompanyLtdintheUKfrom2008to2022(inmillions)PassengersupliftedbyEasyJetinUK2008-2022908070605040302010020082009201020112012201320142015201620172018201920202021202218Description:Overthelasttenyears,EasyJet'spassengernumbersintheUKhavebeensteadilyincreasingoverthisperioduntil2018.Afterward,itfollowedadecreasingtrendthatwasexacerbatedbythecoronaviruspandemic.In2022,EasyJetupliftedjustabove33millionpassengers.ReadmoreNote(s):UnitedKingdom;2008to2022Source(s):CivilAviationAuthority(UK)NumberofpassengersofEurowingsfrom2015to2022(in1,000s)NumberofpassengersofEurowings2015-202245,00040,00035,00030,00025,00020,00015,00010,0005,000038,21232,61326,97118,43016,93316,9697,79220217,2352020201520162017*20182019202219Description:Inthefinancialyearof2022,theairlineEurowingshadboardedapproximately17millionpassengers,significantlyupfromthe7.8millionrecordedinthepreviousyear.Intheperiodofconsideration,Eurowingscarriedthehighestnumberofpassengersin2018at38.2milliontravelers.ReadmoreNote(s):Worldwide,Europe,Germany;2015to2022Source(s):LufthansaAnnualrevenueofEurowingsfrom2015to2022(inmillioneuros)Eurowings'annualrevenue2015-20224,5004,2304,1234,0414,0003,5003,0002,5002,0001,5001,0005002,0601,9091,85782259802015201620172018201920202021202220Description:Inthefinancialyear2022,theairlineEurowingsgeneratedjustunder1.9billioneuros,significantlyupfromthe822millionrecordedinthepreviousyear.ThecoronavirusepidemiccausedadramaticdropinEurowingsannualrevenuefrom4.1billionto598millioneurosbetween2019and2020.Theannualrevenuebegantoincreaseinthefollowingyears,butwasstilllowerthanpre-pandemicfigures.ReadmoreNote(s):Worldwide,Europe,Germany;2015to2022Source(s):LufthansaCHAPTER

05Regionalfocus:AmericasSouthwestAirlinesCo.'soperatingrevenuefromFY2010toFY2022(inmillionU.S.dollars)RevenueofSouthwestAirlines2010-202230,00025,00020,00023,81422,42821,96521,14620,28919,82018,60517,69917,08815,65815,79015,00010,0005,000012,1049,048202020102011201220132014201520162017201820192021202222Description:Inthefiscalyearof2022,SouthwestAirlinesgeneratedapproximately23.8billionU.S.dollarsinoperatingrevenue.Thiswasanincreaseof51percentcomparedtothepreviousyear.Overtheperiodgiven,theairlinesawincrementalincreasessince2010,beforedecliningseverelywhenthecoronaviruspandemicstarted.ReadmoreNote(s):Worldwide;FY2010toFY2022;fiscalyearendsDecember31.Source(s):SouthwestAirlinesSouthwestAirlines'revenuepassengerscarriedfromFY2011toFY2022(inmillions)SouthwestAirlines-revenuepassengers2011-2022160140120134.89134.05130.26126.59124.72118.17110.5109.35108.08103.9799.1110080604020054.0920202011201220132014201520162017201820192021202223Description:SouthwestAirlinescarriedaround126.6millionpayingpassengersin2022.Thiswasasignificantincreasecomparedtolasttwoyears,whenpassengernumbershadbeenimpactedbytravelrestrictionsduetotheCOVID-19pandemic.

ReadmoreNote(s):Worldwide;FY2011toFY2022;fiscalyearendsDecember31.Source(s):SouthwestAirlinesJetBlue'soperatingrevenuefromFY2011toFY2022(inmillionU.S.dollars)JetBlueAirways-operatingrevenue2011-202210,0009,0008,0007,0006,0009,1588,0947,6587,0126,5846,4166,0375,8175,4414,9825,0004,0003,0002,0001,00004,5042,95720202011201220132014201520162017201820192021202224Description:Inthefiscalyearof2021,theJetBlue'soperatingrevenueamountedtoover9billionU.S.dollars.Theairline'soperatingrevenuescollapsedamidtheCOVID-19pandemicin2020.In2022,operatingrevenueshadrecoveredandexceededpre-pandemicrevenuesin2019.ReadmoreNote(s):Worldwide;FY2011toFY2022;fiscalyearendsDecember31.Source(s):jetBlueAirwaysJetBlue'srevenuepassengersfromFY2011toFY2022(inmillions)JetBlueAirways-revenuepassengers2011-20224540353025201510542.7342.1540.0439.5638.2635.132.0830.4630.0928.9626.3714.27202002011201220132014201520162017201820192021202225Description:Inthefiscalyearof2022,theJetBlueAirwayscarriedapproximately39.56millionpassengers.Althoughstillslightlylowerthanpre-pandemicnumbersin2019,theairline'spassengernumbershaverecoveredcomparedto2020and2021.

ReadmoreNote(s):Worldwide;FY2011toFY2022;fiscalyearendsDecember31.Source(s):jetBlueAirwaysSpiritAirlinesInc.'soperatingrevenuefromFY2011toFY2022(inmillionU.S.dollars)SpiritAirlines-operatingrevenue2011-20226,0005,0004,0003,0002,0005,068.453,830.543,323.033,230.782,643.552,320.022,141.461,931.581,810.021,654.391,318.3920121,071.1920111,0000201320142015201620172018201920202021202226Description:Inthefiscalyearof2022,theSpiritAirlinesreportedanoperatingrevenueofover5.1billionU.S.dollars.Thiswasthehighestoperatingrevenuerecordedbytheairlineintheperiodfrom2011to2022.

ReadmoreNote(s):Worldwide;FY2011toFY2022;fiscalyearendsDecember31.Source(s):SpiritAirlinesNetrevenueofGOLLinhasAéreasInteligentesS.A.from2015to2022(inmillionBrazilianreals)GOLLinhasAéreas:netrevenue2015-202216,00014,00012,00015,19913,864.711,411.3510,329.039,867.449,778.0110,0008,0006,0004,0002,00007,4336,3722015201620172018201920202021202227Description:In2022,theBraziliancarrierGOLLinhasAéreasgeneratedarevenueofapproximately15.2billionBrazilianreals,morethandoublingpreviousyear'sfigure.Thelow-costairlinewasoneoftheleadingdomesticpassengercarrierinBrazil.

ReadmoreNote(s):Brazil;2015to2022Source(s):GolTransportesAéreosCHAPTER

06Regionalfocus:AsiaPacificNumberofpassengerscarriedbyAirAsiafromfiscalyear2014to2022(inmillions)AirAsia'snumberofpassengersFY2014-202260504051.5644.4439.093026.4124.2524.2522.1420142010013.3120204.81201520162017201820192021202229Description:Thenumberofpassengerscarriedbythelow-costairlineAirAsiaincreasedtoaround24.25millionin2022,asignificantincreasefromthepreviousyear.TheMalaysianairlineisoperatingin25countries,mainlywithinternationalflights,butalsowithlocaloffshootssuchasAirAsiaIndonesia,ThaiAirAsia,AirAsiaIndiaorPhilippinesAirAsia.ReadmoreNote(s):Malaysia,APAC;FY2014toFY2022Source(s):AirAsialnterGlobeAviationLimited's(IndiGo)financialperformancefromfinancialyear2015to2023(inbillionIndianrupees)FinancialperformanceforIndiGoFY2015-2023ProfitbeforetaxOperatingrevenueTotalincome6005004003002001000-100FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY202330Description:DespitebeingamarketleaderintheIndianaircarrierindustry,IndiGoreportedalossbeforetaxofnearlythreebillionrupeesattheendoffiscalyear2023.ThecompanyhadsignificantlossesduetonationallockdownandrestrictionsofairtravelonaccountofCOVID-19pandemic.ReadmoreNote(s):India;FY2015toFY2023Source(s):IndiGoNumberofpassengerstransportedbyIndiGofromfinancialyear2014to2023(inmillions)PassengertrafficofIndiGoFY2014-202390807060504085.2775.0364.7452.1446.6843.5333.129.34302010025.18FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY202331Description:India`sleadinglow-costaircarrier,IndiGo,carriedaround85.27milliondomesticandinternationalpassengersinthefinancialyear2023.Thiswasanincreasingnumberascomparedtoabout46.7millioninthefiscalyear2022.

ReadmoreNote(s):India;FY2014toFY2023;includesdomesticandinternationalservicesSource(s):DGCA(India);IndiGoOperatingrevenueofSpiceJetfromfinancialyear2018to2022,bycategory(inmillionIndianrupees)OperatingrevenueofS