One of the key issues regarding China’s return for the carriers of other regions is whether to reopen to Russia’s air spaces or risk losing market share.

“When China relaxes restrictions and reopens then the issue of access to Russian air spaces becomes a killer question for European carriers. I think we have to look to the reopening of Russian air space so the European carriers can access Asia,” Walsh said.

Walsh also flagged efforts to decarbonise the industry were likely to result in an increase to fares. The global aviation industry is responsible for about 2.5 per cent of the world’s emissions, a bigger contribution than Australia’s.

IATA estimates the aviation sector will need to invest $US4 trillion in offsets and sustainable fuel through to 2050 to achieve emissions reductions compatible with a 1.75 degree carbon cap, which works out to an annual investment of $US192 billion.

The association’s 290 airlines has called on governments to support sustainable aviation fuel investment as the way to decarbonise the industry.

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Made from crops, household waste, animal fat and other biomass, sustainable aviation fuel produces about one-fifth the emissions of conventional jet fuel at about three times the cost.

Walsh said too much oxygen was given to the practicalities of whether airlines and airports will adopt the sustainable fuel and not enough energy given to its production.

“The industry has used every single drop of the available sustainable aviation fuel despite a significant premium. You don’t need to convince our industry to use it. You’ve got to consider others to produce it,” Walsh said.

There’s currently only enough sustainable aviation fuel produced to replace less than one per cent of the global industry’s needs.

The reporter travelled to Geneva as a guest of IATA.

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