Under full sails 40% of planes sitting momentarily down sounds OK, my guesstimate is 1/3 including the units under maintenance.
That is how I view my figures, out of 100 aircraft around 60 should be airborne in the afternoon. 27 actually flying does not paint a victorious picture of recovery.
But there are significant differences among Airlines, e. g. my Loongair numbers seem as busy as it gets. Well, besides the longhaul fleets who are truly screwed everywhere.
Even in China you can expect median 4 legs on n individual airframe, running at 50% enables to have each ship do 1 turnaround and the whole fleet looks active, but still delivering half of the block hours.