It's important to know that this Wi-Fi Only version does not include cellular connectivity or A-GPS.
The iPad Air 5th Gen (Wi-Fi Only) features a fully-laminated, antireflective 10.9" LED-backlit 2360x1640 "Liquid Retina" display (264 ppi, 500 nits) framed by a thin black bezel and housed in a slim case with rounded corners and flat sides. It comes in five metallic colors: "Space Gray," "Starlight," Pink, Purple, or Blue.
This iPad Air is powered by a 3.2 GHz Apple M1 processor with 8 cores (4 performance, 4 efficiency), an 8-core GPU, and a 16-core Neural Engine. It has 8 GB of RAM and is available with either 64 GB or 256 GB of flash storage. It also includes a "Touch ID" sensor in the top button and supports the Apple Pencil 2nd Gen (A2051, MU8F2AM/A, US$129), which charges magnetically. It has a front 12-megapixel "Ultra Wide" "FaceTime HD" camera with "Center Stage" and a rear 12-megapixel "Wide" camera for up to 4K video.
In addition to a USB-C port, connectivity includes 802.11ax (Wi-Fi 6) with HT80 with MIMO and Bluetooth 5.0. It also has dual microphones and stereo speakers. Battery life is rated at 10 hours of "surfing the web on Wi-Fi or watching video."
Compared to its predecessor, the iPad Air 5th Gen (Wi-Fi Only) and its cellular counterparts feature faster processors, improved connectivity, and better cameras.