Key points from our latest report:
- Industry-wide revenue passenger-kilometres (RPKs) contracted by 79.8% year-on-year in July vs. 86.6% fall in June. Seasonally adjusted RPKs also continued to gradually improve, rising by 14% versus the previous month.
- As was the case in June, the rise in demand remains driven by domestic markets, notably China and more recently also Russia. International RPKs continued to contract by close to 100% year-on-year, although there have been some green shoots of demand on Within Europe routes resulting from opening of the Schengen Area.
- The fall in passenger volumes continues to outpace capacity. As a result, the industry-wide load factor fell to a record low for July, at 57.9%.