IATA: European carriers' RPKs down 73% Aug-2020, Russia domestic returns to expansion

IATA, in its Oct-2020 Europe regional briefing, reported (02-Nov-2020) RPKs for European carriers decreased 73.0% year-on-year in Aug-2020, compared with a 81.2% contraction in Jul-2020. Domestic Russia became the first key domestic market where RPKs returned to expansion (+3.8%). Falling fares along with a boom in domestic tourism were amongst the main contributors to the demand recovery. Within Europe showed a significant slowdown in RPK contraction, with a decrease of 67.7% in Aug-2020, compared to a decrease of 78.9% in Jul-2020. The market's performance is improving since mid Jun-2020 when COVID-19 related restrictions were lifted in the Schengen Area. [more - original PR]