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Global aviation fuel demand is slowly recovering

2021-06-30

According to PetroChina News: The United States and Europe are leading the slow but steady recovery of global airline seat capacity and travel volume, which is driving the demand for aviation fuel.

Analysts said that aviation fuel demand will not return to normal until at least 2023. But with the start of summer in the northern hemisphere, major destinations are reopening, and tourists are eager to board a plane to sunny destinations this summer.

The OAG data used in Bloomberg's weekly flight tracking report shows that global capacity has increased by nearly 1 percentage point, reaching 62% of the 2019 level.

Data from Flightradar24, a global flight tracking service company, last Friday (June 18) showed that there were as many as 92,095 commercial flights worldwide, a record high since mid-March 2020.

Bloomberg’s weekly assessment shows that in the United States, the aviation market has returned to more than 80% of its pre-pandemic level.

U.S. Transportation Security Administration (TSA) public affairs spokesperson Lisa Farbstein said this week that TSA screened 2030,577 people at airport security checkpoints on June 21. This is the sixth time in the past 11 days that the number of security checks exceeded 2 million. . Farbstein added that on June 21, 2019, a total of 2,716,428 people were screened before the outbreak.

In Europe, the European Union has included the United States on the EU’s whitelist of non-essential tourism, while the United Kingdom has included some very popular summer tourist destinations on the green list this week and does not require people to undergo quarantine when returning to the United Kingdom. Britain has included Ibiza, Majorca, Malta and Barbados on the so-called green list.

Willie Walsh, Director General of the International Air Transport Association (IATA), said in an interview this week: "I think Europe may open up faster than we expected."

Although the outlook for the aviation industry this year looks more optimistic than this time in 2020, it will take years, not months, for aviation fuel demand to return to pre-epidemic levels. The consulting firm FGE Energy told Reuters that in Europe, for example, refiners continue to mix aviation fuel with diesel and still limit crude oil production.


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