airplane 26 August 2022

IATA reports that that total air traffic in November 2022 rose 41.3% compared to a year earlier but is still at only 75.3% of pre-pandemic levels.

The next big jump will come with the full reopening of China.

What's less clear is how much business travel demand will resume. Airlines are generally optimistic but where fuel demand lands will be important for both consumer spending and oil demand.