Flight numbers in Europe hit one-year high

London (Quantum Commodity Intelligence) - The number of commercial flights in European airspace hit a year high last week, and April recorded the highest average number of daily flights over a month since November, data from Eurocontrol, the aviation safety agency, showed this week.

Flight numbers in 41 countries, ranging from Iceland across to Ukraine and Turkey, rose to 77,188 over the seven days to May 2, around 1,300 more than a week earlier.

It was also the highest weekly tally since the seven days to December 10.

Flight numbers in April reached almost 328,400, up from around 308,200 in March despite one day less in the month.

The daily average was around 10,946 flights last month, up from 9,942 in March.

The figures come after the US government reported the number of passengers travelling on flights rose to 1.6 million on Sunday, the highest in more than a year.

Demand for flying typically improves in the autumn in the run up to the peak of summer holidays, but the persistence of Covid-19 travel restrictions has left the year-on-year comparisons little changed over the week.

Despite the uptick in flights in Europe this week, the number compared to the same week two years ago stayed around 64% down.

Asian jet cracks rose this morning after physical deals were reported at a premium to the underlying swaps curve. 

Spot jet prices versus July cash Brent rose above $3/b on a FOB Singapore basis for the first time in months.

The vaccine roll-out and improvement in global oil demand this year will also increase refinery production of jet, which was pared to the bone last year as the aviation industry grounded fleets of planes amid lockdowns.