IBA's market update has identified airline failures and restructurings from 2020-2021, and highlighted the number of aircraft grounded as a result.
A total of 63 airlines failed or restructured in 2020 and 2021, including a mix of domestic airlines, low-cost airlines and legacy carriers. This series of failures and restructurings have resulted in the temporary or permanent grounding of 1,924 aircraft.
Some of these airlines have re-emerged under their previous identities, whilst others have been reintroduced under new identities. The most recent example of this is Alitalia's re-emergence as ITA in October 2021. Our forecasts are driven by a combination of expert insight and intelligence from InsightIQ. We use over 30 years' experience in providing specialised aviation advisory services to compile meaningful forecasts in aviation trends.
Airlines have taken on significant debt to survive the pandemic, with stretched balance sheets bringing them under further pressure to return to profitability. With North America the only region forecast to have a profitable 2022, IBA predicts further airline failures will be witnessed in 2022. We anticipate that 20 airlines covering 200 aircraft will fail in 2022, bringing the three-year total to 83 carriers and 2124 affected aircraft. Despite these ongoing challenges, our 2021 predictions indicated over 130 start-up airlines are expected to commence operations by 2022.
IBA's InsightIQ analysis platform flexibly illustrates multiple asset, fleet and market positions, actual and potential, to inform client choices and identify acquisition opportunities. Immediate access to crucial aircraft, engine, lease rate and fleet data eases appreciation of historic and future aircraft concentrations and operator profiles.
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IBA has forecasted a sharp recovery in capacity and demand in our recent commercial aviation market update.