New Delhi, Nov. 13 -- More than half of airlines expect a slowdown in air travel over the next two to three years as higher jet fuel prices, rising maintenance costs and aircraft delivery delays weigh on the industry's growth outlook, according to a report by McKinsey.

The report said geopolitical uncertainty and ongoing conflicts could disrupt air traffic patterns and fuel prices, while higher operating costs could affect passenger demand. Since air travel is price-sensitive, rising fuel and maintenance expenses could put further pressure on airlines.

"A recent survey reveals that 56 per cent of airlines expect a slowdown in air travel in the next two to three years," the report said.

Capacity constraints arising from aircraft deliver...