China's Slow Reopening Weighs Down Aviation Recovery

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China is still mired in the pandemic, with Beijing's "zero-Covid" policy curbing international air travel and suppressing economic activity. From the engine for global jet fuel demand gains prior to the pandemic, China has become a deadweight on the pace of recovery. Despite lower fatalities than in Europe or the US, Asian countries are laggards with a far more cautious approach than in the West to reopening their borders. “Even with economic and geopolitical uncertainties, the demand for air transport continues to recover ground. The outlier is still China with its pursuit of a zero-Covid strategy keeping borders largely closed and creating a demand roller-coaster ride for its domestic market,” the International Air Transportation Association reported earlier this month.

Jet Fuel, Oil Demand
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