More than tea I am afraid...
Whilst the impact by region varies the macro numbers show that pax revenue is off between 12% and 16% YOY. North America was ahead of the curve in declines but Europe and Asia are now replicating these numbers. Premium revenue is off 20%-25%.
On the cargo side the numbers are off about 40% and this has not yet stabilised.
No carrier has been immune.
All the classic freighters straight to the knackers yard. The latest 400 conversion coming out of Xiamen is going straight to the desert.
Could be worse, we could be in the shipping business. Oops we are in that too.
