European flights numbers climb to year high: Eurocontrol

London (Quantum Commodity Intelligence) - Flight numbers in Europe climbed 2.6% last week as lockdown restrictions continued to ease and holidaymakers returned to the beaches, data from Eurocontrol, the Brussels-based aviation safety agency, showed Monday.

The number of flights from 41 countries, ranging from Iceland to Turkey and Ukraine, hit 81,293 over the week to Sunday, May 16, up 2,070 from a week earlier and also a year high.

There were almost 20,000 more flights than the seven days to January 31 when demand for flying slumped amid the third wave of Covid-19.  

European demand for cargo freight has soared past pre-Covid 19 levels in March, according to the International Air Transport Association, and is expected to continue to grow through the year.

But the passenger market also continues showing signs of recovery.

Cracks for jet fuel versus Brent in Rotterdam have been trending higher since the start of April, and like the diesel market, the refining margin based on swaps improves month-on-month throughout the year.

The June paper crack value for jet cargoes delivered into Rotterdam was pegged at $5.27/b on Friday, while the December paper crack value was $8.24/b, Quantum data shows.