Cancellations plague airline recovery

A rebound in bookings as pandemic travel restrictions ease has overwhelmed airlines that laid off tens of thousands of pilots, flight crew, baggage handlers and security staff

2017
2018
2019
2020
2021
2022

Global air passenger traffic (RPKs Ð revenue passenger kilometres)

Billion RPKs per month
800
600
400
200
0

Dec 2019: First human cases of Covid-19 identified

2019: Air industry carries 4.5 billion scheduled passengers, generating $870 billion of revenue

May 2022: RPKs up 83.1% compared to May 2021 and 68.7% of pre-crisis levels

Jun-Oct 2022: BA cancels 17,600 flights

Flight cancellations
Apr-Jul 2019
Apr-Jul 2022

Virgin Australia 1.44%   5.91%
KLM              1.08%   5.83%
Air New Zealand  2.77%   3.71%
Qantas           2.30%   3.33%
British Airways  1.40%   3.50%
Lufthansa        1.42%   3.08%

Sources: Bloomberg, Cirium, IATA, ICAO

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