Viewpoint: European jet demand to stall in early 2022
- Date: 31-Dec-2021
- Source: Argus Media
- Sector:Financial Markets
- Country:Gulf
Viewpoint: European jet demand to stall in early 2022
London, 31 December (Argus) — Demand for air travel in Europe will remain under pressure in the short term amid rising Covid cases and new containment measures put in place to stem the spread of the Omicron variant. But the outlook is more upbeat than a year ago thanks to widespread vaccination campaigns.
The International Air Transport Association (Iata) says the return of "ill-advised" travel restrictions will stall the aviation sector's recovery in the early months of 2022, but it expects an improvement in global passenger numbers for the year as a whole, with traffic forecast to reach 61pc of pre-pandemic levels in 2022, compared with just 40pc in 2021.
The IEA paints a similar picture in its latest Oil Market Report. "While significantly lower than previous projections, world jet fuel demand is expected to continue to recover from last year's slump. New travel restrictions are likely to remain milder than during previous Covid waves in countries where a large share of the population is vaccinated," it said.
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