By Angus Whitley
Bloomberg Excerpt: The jet era that globalized air travel for half a century was brought to an abrupt halt with Covid. Now, planes are back in the skies but flying’s proliferation is in reverse: Fewer aircraft are plying a smaller network and fares are up.
Thousands of flights each month have been wiped from schedules into major hubs including Singapore, London and Doha, Cirium data show. It’s more expensive to fly almost anywhere overseas. And while some markets such as the US are just about back to pre-virus capacity, swathes of Asia and Europe are wallowing more than one-quarter below 2019 levels. …
“Flying has moved upmarket,” said Simon Kuestenmacher, Melbourne-based co-founder of advisory firm The Demographics Group. It’s further evidence that the pandemic has drawn a clearer line between the world’s economic winners and losers, he said. …
Here are four charts that tell the story.
1. Ticket Prices – There’s so much appetite to travel that airlines have been able to more than double fares on some routes, particularly for business class seats. …
“We have a genuine imbalance between supply and demand,” said Joe Leader, chief executive officer of APEX, a New York-based passenger experience association.
Globally, some 100,000 weekly flights have been scrubbed from pre-Covid schedules. The number of weekly flights in early December was 616,330, down 14% from 716,727 in the same period of 2019, according to data from OAG.
The smaller number of flights heading into major transit hubs has reduced social mobility.
Flashback 2021: German health minister says climate change travel restrictions needed – ‘Accept certain limitations’– Via Google Translate: “We have to accept certain limitations if we want climate change mastering. This will include, for example, that we don’t travel as much. This means that we also voluntarily enter one or the other consumption these restrictions on freedom are voluntary restrictions on freedom and not necessarily implied gifts of freedom that are now more or less by law can also be restrictions on freedom come indirectly by e.g. the prices for certain things that are harmful to the climate are higher, and so it’s over in my view, there is an analogy between overcoming such a pandemic and the climate.”
Certain activities may have to be prohibited. That will easily become anything you enjoy, peasants. https://t.co/J8c4HGVox8
— Dr Jordan B Peterson (@jordanbpeterson) December 22, 2022