Below is an excerpt from an April Aircraft Intelligence Monthly report. We are putting the final touches on the June AIM now for next week including adding a new full-sized chart library for our AIM partners to use in their own presentations and reports.
If the aircraft market edge published in the AIM could be useful to your organization, you can learn more here: Aircraft Intelligence Monthly
Why it matters:
Airline capacity growth sharply escalated through Q1, 2023 bringing global traffic to within 11 percentage points of GDP indexed to 2019. Driving much of this regrowth is East Asia, where capacity has been quickly deployed following the end of the Zero COVID policy in China. Improving over 33 percentage points versus current GDP levels as recently as December 2022, the region is now to within 14 percentage points of normal.
North America continues recovery now at a 7-percentage point gap. This is an improvement from 11 points in December 2022, and suggests the market is better able to deploy capacity. The North American market was the first to hit capacity constraints, and while the first signs that the pilot shortage is abating at the large airlines, availability of aircraft and ATC capacity are continued challenges, along with pilot supply at smaller airlines.
Both Latin America and Africa have exceeded GDP-indexed levels of airline capacity, the first two regions to do so. The relatively smaller size of the two markets limits the impact on global numbers. Further, the two regions are subject to a 2019 index of flying which was lower given the status of the markets in 2019.
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