Mexico Aerospace Fair BeginsBy Paloma Duran | Thu, 09/23/2021 - 17:21
The fourth edition of the Mexico Aerospace Fair 2021 has begun, which seeks to attract more investment to the sector. The Mexican aerospace industry will help El Salvador to develop its first aerospace cluster. In addition, a recent OAG report forecasts that the industry will not recover until 2024, adding another major challenge for airlines across the globe.
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President López Obrador inaugurated the fourth edition of the Mexico Aerospace Fair (FAMEX) 2021, which took place at the Felipe Angeles Airport located in the State of Mexico. Mexican authorities seek to attract foreign investment through FAMEX, where representatives from 47 countries and for the first time the Community of Latin American and Caribbean States (CELAC) attended the event.
The Mexican aerospace industry announced that it will play a key role in the development of the first aerospace cluster in El Salvador, which seeks to promote national manufacturing and attract investment in the sector. Through the signing of agreements with the Mexican Federation of the Aerospace Industry (FEMIA), the Aerospace Fair of Mexico (FAMEX), the Universidad Aeronáutica de Querétaro (UNAQ) and the Mexican startup Space JLTZ, the country has committed to helping El Salvador to establish the best practices and an attractive framework.
A new OAG report forecasts that the global aviation industry will not see a recovery until 2024. The recovery of the global aviation industry is advancing at a much slower pace than expected, said John Grant, analyst at OAG. Global capacity has recovered from 2020, but airlines continue to face flight regulations while holding air routes until restrictions are lifted on several countries. Moreover, the recent downgrade of Mexico’s airspace to Category 2 further complicates the recovery of local airlines as they are unable to open new routes and grow their market.
Poor aircraft capacity continues to drag down 2022 recovery forecasts, as airlines have failed to return to their 2019 levels. On the other hand, business travel is on the rise, which could support the recovery of the sector.
Mexico is still below its pre-pandemic levels, with total passenger traffic at only 61 percent of what it was in 2019, according to the Federal Agency of Civil Aviation’s (AFAC). By July, a total of 42.1 million passengers have flown during 2021, while 69.2 million passengers had flown during the first seven months of 2019. National airlines have grown by 50.6 percent in 2021, while they only grew 8.9 percent in 2019.