U.S., Europe Leading Utilization Recovery
Despite the lack of international travel, the utilization rates in the U.S. is currently top in the world. It has recovered to about 80% of pre-COVID levels, mostly due to domestic demand. Europe, while only at about 50% of pre-pandemic levels, has also finally come up from the bottom. Both regions are expected to continue growing over the summer months.
The Middle East and Latin America are also headed in the right direction, growing slightly in recent months.
On the other hand, the recovery for China and Asia Pacific have taken a hit due to a rise in cases and reintroduction of travel restrictions in the region. Still, China remains the only region that has recovered to pre-pandemic levels of utilization due to domestic route development.