Europe aviation recovery hits another high, but prices start to soften

Europe's capacity recovery from the COVID-19 pandemic continues this week, reaching a new high at almost 85% of the seats flown in the equivalent week of 2019. At the same time, the most recent monthly data on price inflation for passenger air travel in the EU-27 and the UK show that price growth has slowed in 2022.

Europe's seat shortfall of -15.5% versus 2019 levels in week commencing 16-May-2022 is only slightly better than last week, but takes it to its best performance on this measure since before the crisis.

However, Europe remains fifth in the regional ranking, above only Asia Pacific, where capacity is down by -29.3%. Middle East capacity is down by -11.7%, while North America capacity is down by -10.7%, Latin America by -5.1%, and Africa - at the top of the ranking for the first time - capacity is down by -4.6%.

The capacity recovery is projected by current schedules to rise to 91% of 2019 levels in 3Q2022. However, uncertainties surrounding future virus developments and geopolitical events remain. The continued capacity recovery may require further price stimulation.