End of day 1 at Farnborough airshow #FIA2024. Great meeting old friends and making new connections. Execs still talking of good times and demand exceeding 2019. In contrast, Ryanair reporting a 15% drop in average fares with “pricing continuing to deteriorate”, Air Canada reporting overcapacity and a drop in pricing power while forecasting a 42% drop in operating income, and United reporting pressure on yields and a need to trim capacity from mid-august (still in the summer peak), amongst negative outlooks from other major carriers around the US and Europe. As I commented in an interview article in October 2023, the party is likely to be over by mid 2024. That forecast seems to be playing out as predicted. #RYANAIR, #AIRCANADA, #UNITED Mark Pilling Graham Dunn Edward Russell Max Kingsley-Jones FlightGlobal Airline Business Skift Aviation International News Aviation Week Network AirlineReporter Airfinance Journal Reuters BBC News Bloomberg News CNBC Financial Times CNN WirtschaftsWoche Handelsblatt
Fred Lazar
3mo
Every time I'm on a flight, it seems as if more than 85% of the seats are filled. So how do the airlines define over-capacity?
Global Senior Director - Scotch & Jamaican Rums at Campari Group
3moThanks for the insights Shakeel. I’m indeed surprised to still see full flights (both economy and business) despite the incredibly high fares. I expect that consumers / businesses will watch their spend after a summer of indulgent travel