Slow Traffic Recovery Restrains Asian Jet Demand

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Slow recovery in long-haul international traffic is hampering the recovery in Asia-Pacific jet fuel demand. By early November Asia's international capacity had recovered to just 47% of pre-pandemic levels, lagging the recovery in other parts of the world by a wide margin, according to Capa — Center for Aviation. North American international capacity had recouped 88% of its 2019 levels, while European capacity had rebounded to 86%. The absence of international services results in a lower average fuel burn per flight in Asia, where short-haul regional routes still dominate air travel patterns. The situation is most pronounced in Northeast Asia, where international capacity was just a quarter of 2019 levels due to lockdowns in China. International capacity in China was a 7% sliver of 2019 rates, Capa noted. The consultancy pointed out that wide-body planes used for long-haul international services were grounded longer than narrow-body aircraft for short-haul flights. In early November there were just 1,413 wide-body jets in service versus roughly 1,800 prior to the pandemic.

Jet Fuel, Oil Demand
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