UBS: Flight growth to halve due to environmental concerns
Environmental concerns have been cited as a major factor in the reduction of flights, with a UBS study suggesting flight growth could be halved in the coming years.
The concept of “flygskam”, translated from Swedish to mean “flight shame”, is becoming increasingly prominent, according to the Swiss bank.
In the past decade and a half, the number of overall flights taken has doubled, growing between four and five per cent year-on-year.
Airbus and Boeing believe that this growth will continue until the mid-2030s.
The influence of Greta Thunberg, a Swedish climate campaigner, has increased the profile of climate change and UBS suggest that this could alter flying habits across Europe and America.
The survey of over 6,000 people in the UK, US, Germany and France found that over a fifth of people had taken fewer flights in the past year.
Of this, 16 per cent of those from the UK stated they were endeavouring to cut back on flying, while just under a quarter of US flyers were reluctant to change their habits.
Since the survey was undertaken in May this year, UBS stated there had been a considerable change in flying habits and anticipate a fall in the growth of US flights from 2.1 per cent to 1.3 per cent.
The bank continued, stating that this decision could result in Airbus losing around £2.5 billion a year.