Asia Pacific Aviation Nowcast: Nowcast #140: China softening, Taiwan seeing strong summer bookings

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Asia Pacific Aviation Nowcast: Nowcast #140: China softening, Taiwan seeing strong summer bookings

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Asia Pacific Aviation Nowcast

Nowcast #140: China softening, Taiwan

seeing strong summer bookings

Industry Overview

Real time tracking of Asian travel trends 10 June 2026

Our 140th Nowcast shows high frequency travel trends across Asia. Chinese airlines have Equity

been incrementally cutting flights through May and June showing a softer than expdcted Asia-Pacific

slack season while ex fuel ticket price growth remains slightly up YoY. Indian domestic Airlines

air travel rebounded in May and Indian airlines sound confident that Middle East flight

Nathan Gee, CFA >>

capacity is being restored. Taiwanese airlines are seeing strong summer revenue intakes, Research Analyst

while Korean airlines are shifting capacity from domestic to int’l to capture strong long Merrill+65 6678Lynch0418(Singapore)

haul demand growth. nathan.gee@bofa.com

Amy Han >>

Research AnalystChina: Flight cuts accelerating while ex-fuel pricing holds Merrill Lynch (Hong Kong)

Average flights declined -7.2% YoY in May and are tracking -11.1% YoY in the first week +852 3508 5344

of June despite a -15% MoM decline in domestic jet fuel prices. Ex-fuel ticket price amy.han@bofa.com

growth softened to +4.6% YoY in May and +1.1% in early June 2026, while load factors HiroResearchNakakura,Analyst CFA >>

edged down to 82.3% (–1.2pp), indicating softening demand. Capacity cuts have driven Merrill Lynch (Singapore)

+65 6678 0972

average fleet utilzation to 6.95 hours (down 0.75 hours) after Labor Day. hiro.nakakura@bofa.com

India: May traffic rebounds with IndiGo gaining share

Indian domestic passenger traffic rebounded to +5% YoY in May but has dipped negative

again in early June.