As we finish the first quarter of the year, global capacity has remained above 80 million seats this week despite a further downturn in China, where cities continue to be locked down as the authorities grapple with a few thousand cases of domestic Covid-19.
Last week we saw a significant amount of capacity being removed for the rolling three month forward period as airlines responded to a combination of events, and some carriers eased back on capacity growth with the expectation of squeezing yields higher to combat the increasing costs of oil. Fortunately, this week it seems that, at least in the medium to longer term, airlines are now settling down on capacity changes with another 4.2 million seats added for May and June.
April does however remain a bit of a problem, as some six million more seats were removed for the remainder of the month in the last seven days; it may just be that some airlines have realised that there is an Easter Holiday looming! There is no doubt that the 'yellow worm' of 2022 is edging ever closer to the 2019 base, but as for catching up by year end; probably as much chance as Brighton scoring in open play before December.
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