CAPA: Acceleration of seat capacity cuts unprecedented, reflects dramatic evaporation of demand

CAPA - Centre for Aviation, in a report entitled: 'COVID-19 and European airlines: zero capacity becomes a reality', stated (24-Mar-2020) the acceleration from an expected 19.6% year-on-year seat capacity decline to a 59.1% cut in a matter of days is unprecedented and reflects the rapid response of European airlines to the dramatic evaporation of demand in response to the coronavirus. And in spite of the rapid acceleration in the capacity cut in Europe, it seems likely that even the currently indicated cut of 59.1% will be exceeded in week commencing 23-Mar-2020. It will certainly be exceeded in future weeks, with at least some possibility of capacity temporarily not much above zero. [more - CAPA Analysis]