Confusing? Typical of the Corona period. This is according to a study published by ForwardKeys. Details in the article
Research published by the research company ForwardKeys Revealed the aviation industry's collapse following the outbreak of COVID-19. On April 19, 2020 the number of flights dropped by 50% compared to the same period last year. The current supply of seats (April 27, 2020) is less than 10% of the supply in mid-March, a decrease of about 40 million seats. However, flight search data reveals that passengers still dream of flying.
The drop in flights since the beginning of the year was the largest in the Asia-Pacific region – 56.1% compared to the same period in 2019. Africa and the Middle East – 42.6%. In Europe – 50.2%, in the American continent – 39.8 %%. Over 90% of flights are now grounded and the trend will continue to worsen in the near term.
ForwardKeys report analysis shows that flight bookings have now dropped by 86.8% compared to the first 15 weeks of 2019. Asia Pacific flight bookings have dropped more than 100% (more cancellations from new bookings). In Europe – 84.7%, the continent of America – 75.9%, Africa and the Middle East – 71.4% compared to the same period last year. Throughout March, there were actually no new orders but a huge wave of cancellations, which continued even in the first two weeks of April.
However, ForwardKeys conducted a flight search in several countries during March, with most of the population quarantined and finding that consumers are still looking for travel and moreover, they are disproportionate to long-term travel in the third and fourth quarters of this year. Countries examined include France, Italy, Japan, Spain and South Korea.
Olivier Ponti (Olivier Ponti), CEO of ForwardKeys, said: “While we are currently watching catastrophic plunge in the airline industry, with a small portion of flights still in the air, especially cargo, rehearsals and essential travel, there are some noteworthy patterns. First, the peak of summer vacation bookings is in May, so if the closure ends soon, there may still be a chance to save the summer season, at least partially. Second, flight search data indicates consumer desire for travel; So once the restrictions are removed, the market will eventually return. “
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