Global jet fuel demand recovery: Turbulence ahead Report

Insight 29 June 2020

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Report summary

The coronavirus pandemic this year landed an unprecedented blow to global jet fuel demand. A combination of lockdowns and global travel restrictions slashed Q2 global jet fuel demand in Q2 to just 3 million b/d, far below the levels seen in the aftermath of the 11 September 2001 terrorist attacks – the most recent airline transit shock. Although Covid-19 containment measures began to ease globally in May, the pace of jet fuel demand recovery still faces blustering head winds in 2020, 2021 and beyond. In this insight, we address these topics: • How long before global jet fuel demand recovers to 2019 levels? • Domestic versus international flights and the pace of recovery • The role of government intervention • Risks to jet fuel’s recovery

Forecast post 2021
Domestic vs. international flights – who bears the pandemic’s impact?
- China leads the way
- Europe recovery slowed by international flight restrictions
- US recovery led by domestic flights
Will government support keep airlines in the stratosphere?
Long-term turbulence ahead