May 17, 2023 09:27 GMT
Chinese Flying Steadies After Post Labor Day Holiday Blip
Chinese flying activity steadies after post Labor Day holiday blip.
- The Chinese Labor Day holiday at the start of the month helped boost air travel and represented the first major public holiday free from restrictions in over three years.
- Chinese flying activity represents one of the main drivers of global oil demand growth in 2023 – in particular international travel which still lags well behind pre-pandemic levels at around 40%. Domestic flying meanwhile hovers around parity.
- Both metrics are well above year ago levels (see chart) when pandemic restrictions throttled air travel.
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