Asia | China | Emerging Markets | Global
This article is only available to Macro Hive subscribers. Sign-up to receive world-class macro analysis with a daily curated newsletter, podcast, original content from award-winning researchers, cross market strategy, equity insights, trade ideas, crypto flow frameworks, academic paper summaries, explanation and analysis of market-moving events, community investor chat room, and more.
We track scheduled flights (what’s planned) and tracked flights (what took off) from a sample of the largest airports across the world.
Looking at data up to 17 October:
- Global departures have resumed their downward trajectory (-1.1% WoW), they blipped higher last week, but this was not driven by the major airports we track (Chart 1).
- China (Shanghai: -35.0%; Beijing: -31.4%) departures continued to collapse as Covid-19 cases continued to rise following Golden Week (Chart A). It comes as President Xi Jinping refused to budge on zero-Covid at the Party Congress with Beijing imposing stricter testing requirements for new arrivals. Excluding China, departures across Asia increased 3.7% WoW (Chart 2).
- Departures saw little change across the US (+0.3% WoW) and Europe (-0.6% WoW), as Heathrow Airport noted, they had the busiest European airport this summer, but the outlook for demand looks uncertain.
Information on long-term movements in flight data is available below.