芬兰罗瓦涅米机场在2025年首次超过100万到达；全球航空业2025年净利润接近400亿美元，远高于2019年疫情前的260亿美元。航空公司在2024年运送48亿名乘客、2025年可能达到50亿名，合计收入预计首次超过1万亿美元，客座率创纪录接近84%，并在2026年料将进一步上升。

并非全部指标都在上升：欧洲和北美航空公司贡献了行业净利润的五分之三，但自乌克兰战争开始以来不得不绕行以避开俄罗斯领空；6月以色列对伊朗的打击后，中东部分地区也成为禁飞区。美国航空公司还遭遇政府停摆扰乱航班；即便燃油价格下跌，燃油仍占运营成本的25%—30%，而飞机短缺加剧——波音与空客2025年合计交付不足1,400架，低于2018年刚超过1,600架，波音曾因2018年底与2019年初两起737 MAX致命事故而停飞20个月，空客则在12月初将年度交付目标从820架下调至790架。

供应链与发动机问题仍在持续，导致全球空客A320neo机队的三分之一停飞。IATA称飞机供给缺口最早也要到2031年才可能解决；全球机队平均机龄约15年（2019年为13年），使得燃油效率改善从过去每年约2%放缓至2025年的0.3%，老化机队在2025年带来的额外燃油、维修与备件成本超过110亿美元；尽管业绩创纪录，净利率仅4%，相当于每名乘客7.90美元利润。

Rovaniemi Airport in Finland surpassed 1m arrivals for the first time in 2025; global airline net profits in 2025 are nearly $40bn, far above the pre-pandemic $26bn in 2019. Carriers flew 4.8bn passengers in 2024 and probably 5bn in 2025, with combined revenues expected to exceed $1trn for the first time, while load factors hit a record near 84% and are set to rise further in 2026.

Not all metrics are rising: European and North American airlines generate three-fifths of industry net profits but have faced longer routings since the start of the war in Ukraine to avoid Russian airspace; after Israel’s strike on Iran in June, parts of the Middle East also became no-go zones. US airlines were also disrupted by a government shutdown; even with lower fuel prices, fuel still represents 25–30% of operating expenses, while aircraft shortages worsened—Boeing and Airbus delivered under 1,400 planes in 2025 versus just over 1,600 in 2018, Boeing endured a 20-month 737 MAX grounding after two fatal crashes in late 2018 and early 2019, and Airbus cut its annual delivery target from 820 to 790 in early December.

Supplier and engine issues persist, grounding a third of the global Airbus A320neo fleet. IATA says the aircraft supply gap is unlikely to be resolved before 2031 at the earliest; the average fleet age is around 15 years (vs 13 in 2019), slowing fuel-efficiency gains from about 2% a year to 0.3% in 2025, with an ageing-fleet cost over $11bn in 2025; despite record results, net margin is only 4%, equal to $7.90 profit per passenger.

Source: Despite a record year, airlines are grappling with big challenges

Subtitle: Profits remain meagre and fleets are ageing

Dateline: 12月 31, 2025 02:11 上午