Europe aviation recovery slips. Winter schedules may be trimmed

Europe's capacity recovery has slipped to its lowest level as a percentage of 2019 levels since mid May-2022. In the week of 31-Oct-2022 seat numbers are at 84.4%, which is a shortfall of 15.6% against the equivalent week in 2019.

Europe remains fifth in the regional ranking, above Asia Pacific, where capacity is down by 27.5% versus 2019.

Although Europe's seat numbers as a percentage of 2019 levels are at a 26-week low, the capacity recovery remains broadly within its range of more than five months.

However, recent booking data indicates that USD strength has been a contributory factor in damping demand from the eurozone to other markets.

With 4Q2022 capacity currently projected at 90%, schedules may have further to fall.