What travel recovery, asks Swiss International Air Lines
Europeans may be flocking to Mediterranean beaches for getaways delayed by the coronavirus pandemic, but — at least at Swiss International Air Lines — the rise in leisure bookings belies a broader travel recovery. “We regretfully still see no signs of any broader structural recovery of the air transport sector,” said Tamur Goudarzi Pour, commercial chief at the Zurich-based carrier, in Swiss’ summer schedule unveiled on Tuesday. All in, the airline will fly 50-55% of its 2019 capacity during the peak summer months of July and August, a marked increase from less than 30% in May but still far below some its network peers in Australia, China and the US. The issue facing Swiss is that of every airline without a large domestic market. The carrier has negligible domestic flying — less than 1% of its system capacity in 2019 — and overwhelmingly relied on business travel before the crisis. Together, this leaves Swiss at a significant disadvantage when it comes to a recovery that favors domestic leisure and visiting friends and relatives (VFR) travel. Swiss is far from alone. The IATA expects passenger traffic in Western Europe to recover slower than in other regions with large domestic markets, chief economist Brian Pearce said during a briefing on May 26. The lagging recovery, which is forecast to last into 2023, is in large part due to the region’s reliance on international travel — both within the EU bloc and from long-haul points. “You’re likely to see a more cautious industry, as we come through this crisis and go into the recovery mode,” said IATA Director General Willie Walsh.<br/>
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What travel recovery, asks Swiss International Air Lines
Europeans may be flocking to Mediterranean beaches for getaways delayed by the coronavirus pandemic, but — at least at Swiss International Air Lines — the rise in leisure bookings belies a broader travel recovery. “We regretfully still see no signs of any broader structural recovery of the air transport sector,” said Tamur Goudarzi Pour, commercial chief at the Zurich-based carrier, in Swiss’ summer schedule unveiled on Tuesday. All in, the airline will fly 50-55% of its 2019 capacity during the peak summer months of July and August, a marked increase from less than 30% in May but still far below some its network peers in Australia, China and the US. The issue facing Swiss is that of every airline without a large domestic market. The carrier has negligible domestic flying — less than 1% of its system capacity in 2019 — and overwhelmingly relied on business travel before the crisis. Together, this leaves Swiss at a significant disadvantage when it comes to a recovery that favors domestic leisure and visiting friends and relatives (VFR) travel. Swiss is far from alone. The IATA expects passenger traffic in Western Europe to recover slower than in other regions with large domestic markets, chief economist Brian Pearce said during a briefing on May 26. The lagging recovery, which is forecast to last into 2023, is in large part due to the region’s reliance on international travel — both within the EU bloc and from long-haul points. “You’re likely to see a more cautious industry, as we come through this crisis and go into the recovery mode,” said IATA Director General Willie Walsh.<br/>
