Many challenges within the aviation industry have presented themselves over the last few months. Most of the vocalized concerns that we have heard within both the public and private sectors are tied to rising project and operational costs, as well as continued difficulties in hiring and retaining a qualified workforce. These impacts are being felt throughout the airline industry, General Aviation, and airport construction sectors.
The airline industry has come a long way, since the beginning stages of COVID-19 led to a 95% drop in passenger traffic in April of 2020. Now, many of our commercial airports are within reach of a full recovery in pre-pandemic passenger demand; however, new challenges have emerged. The airlines are currently citing inability to add additional flights into the system, due to the pilot and staff shortages that are currently plaguing the industry. Additionally, increased operational costs are resulting in higher fares for the traveling public. These new realities present headwinds for retaining and attracting new air service opportunities, which hurts the overall health of an industry that is now coping with rising break-even costs. In order to once again see sustainable passenger growth above pre-pandemic levels, additional flights or larger aircraft with additional seats will...