Europe's aircraft fleet in service falls as capacity slides

Europe's active passenger jet numbers are falling again after a brief upturn in Dec-2020. Moreover, at 56% of its fleet, Europe is below the world average of 65% in service at 26-Jan-2021.

According to the CAPA Fleet Database, Europe's 3,520 passenger jets in service are 39% down year-on-year. Although three times the active fleet in the first lockdown at the end of Apr-2020, this is 14% down from the Aug-2020 recovery peak.

Europe's airline seat capacity is also underperforming the rest of the world. It is at only 25% of 2019 levels in the week of 25-Jan-2021, the lowest since Jun-2020. Seat capacity is down by more than active aircraft numbers, indicating depressed fleet utilisation.

Europe's LCCs have had a higher percentage of passenger jets in service than its legacy airlines since Jun-2020, but they cut this more heavily in the initial lockdown. Adjusting capacity to demand, often very rapidly, is much more embedded in the LCC mindset.

As national lockdowns continue and travel restrictions tighten, expect further near term cuts in Europe. Expect LCCs to lead the way when demand picks up.