The document reads that "cancelled flights could become the new normal in Europe as airlines strive to protect margins, in a context of rising fuel prices" by 89% this year.

Thus, taking into account that "salaries represent 25% of revenue (compared to the global average of 19%), European airlines have little incentive to solve the short-term shortage of personnel", indicated Allianz Trade.

Consequently, "airfares are skyrocketing in Europe", and "after years of declines", the study estimates that prices will increase by 21% in 2022, adding that "although this will increase revenue by +102% year-on-year, in 2022, this will not be enough to avoid a third consecutive year of losses", of about 9.7 billion dollars (about 9.4 billion euros), guaranteeing that "European airlines will not reach the 'break-even' point until 2023".

In recent weeks, there has been a wave of cancellations and disruptions in the operation of airlines and airports, mainly due to a lack of staff, in a context of rapid recovery of air transport, after the pandemic.