Globally, airline capacity is back to pre-pandemic levels. Despite January 2024 being slightly below 2019 capacity levels (-0.8%), total airline capacity in Q1 this year is expected to increase by 10.2% versus last year, representing an increase of 2.1% versus 2019. Nevertheless, this rebound belies variation across and within regions.
All regions across Asia have reached and exceeded 2019 capacity, except South East Asia. North-East Asian and European markets traveling to/from South-East Asia have not yet fully recovered. International airline capacity in China has taken longer than many other markets to recover, including its own domestic travel market which has grown by 17% versus January 2019.
China surprised the world when it announced it was re-opening its borders on 8th January 2023. However a year on, Chinese international capacity is still 30% below 2019 in Q1 2024, and even once that level is reached then there will be…
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