As we enter the fall season, we are seeing a number of positive movements in the industry that are pointing to an eventual recovery. After experiencing lockdowns across virtually every market, border restrictions are easing in certain parts of the world and domestic operations are opening up with Asia leading the way in this area. To that point, China’s domestic demand stands at 72% of pre-COVID-19 levels while domestic demand in France and Vietnam is now up to 60%. In Europe, regional travel is opening up as well and countries are making travel bubbles.
On another positive note, the percentage of stored aircraft has decreased significantly, moving from 65% of the fleet in April to 35% of the fleet in August. This trend is expected to increase over the coming months as industry fleet forecasts predict that ~70 - 80% of global fleets will return to service by the end of this calendar year, and fully return to service in early 2022.
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