Europe aviation: capacity recovery dips amid healthy bookings & yields

Europe's capacity recovery has again slipped as a percentage of 2019 levels.

In the week of 7-Nov-2022 seat numbers are at 83.8%, which is a shortfall of 16.2% against the equivalent week in 2019. This is the lowest level for this measure since Apr-2022.

Europe remains fifth in the regional ranking, above only Asia Pacific, where capacity is down by 27.4% versus 2019. Other regions are down by a single digit percentage, whereas Latin America capacity is up by 2.0% compared with the equivalent week of 2019.

European airline load factor narrowed the gap to 2019 levels in Sep-2022, after two months of the gap widening.

Moreover, leading European airline groups have all pointed to a winter outlook of robust forward bookings and yields. It seems that tighter capacity is benefitting Europe's airlines.