Demand for air transport is increasing "normalizing" after the post-pandemic boom, according to executives

Demand for air travel has normalised following a post-COVID-19 pandemic boom as holidaymakers and travellers are wary of higher fares, executives from major airlines said at the Farnborough Air Show on Monday.

Guliz Ozturk, chief executive of Turkish low-cost carrier Pegasus Airlines, said the company expected yield — a measure of the average fare paid per mile by each passenger — to remain stable.

Travelers are looking for the most cost-effective way to travel, he said.

Air India Chief Executive Campbell Wilson said he expected the international market to moderate over the next six months.

Luis Gallego, CEO of IAG, which owns Iberia and British Airways, said business travel was still recovering from the COVID-19 crisis, when travel came to a near standstill as borders closed and planes were grounded.

The comments come after Ryanair reported earlier on Monday a bigger-than-expected fall in quarterly profit as fares plunged 15%, with management saying ticket prices were continuing to deteriorate.

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