Global Flights Tracker: Co-May Storm comp base lifts flight cycles YoY, but storm-adjusted global trend remains flat

研报英文原文证据摘录

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05 Aug 2026 06:30:27 ET │ 8 pages

Global Flights Tracker

Co-May Storm comp base lifts flight cycles YoY, but storm-adjusted

global trend remains flat

n

European A&D

CITI'S TAKE

Global flight cycles improved to +2.5% YoY in Week 31, largely driven by

China’s exceptional +23.0%, helped by the low base from large

cancellations in W31 and W32 2025 caused by the Co-May storm. Adjusting

for this effect, China would have been closer to +7.0% and global cycles

around +0.2%, suggesting the underlying YoY trend remains broadly flat.

Passenger flights would be around +0.5% and freight +3.6%. Europe

remained positive, APAC ex-China improved but stayed negative, the US

weakened further, and ME remained under pressure from airspace and

cargo disruption.

Rodrigo Campo

Charles J Armitage AC

European Airlines

Conor Dwyer

Figure 1. Global flight Volumes YoY growth (%)

US A&D

8%

John Godyn

6%

4%

US Industrials

2%

Andrew Kaplowitz

0%

-2%

Global Transport

-4%

Kaseedit Choonnawat

2025-01

2025-03

2025-05

2025-07

2025-09

2025-11

2025-13

2025-15

2025-17

2025-19

2025-21

2025-23

2025-25

2025-27

2025-29

2025-31

2025-33

2025-35

2025-37

2025-39

2025-41

2025-43

2025-45

2025-47

2025-49

2025-51

2026-01

2026-03

2026-05

2026-07

2026-09

2026-11

2026-13

2026-15

2026-17

2026-19

2026-21

2026-23

2026-25

2026-27

2026-29

2026-31

-6%

Global YoY growth (%)

© 2026 Citigroup Inc. No redistribution without Citigroup’s written permission.

Source: Citi Research, Cirium, FlightAware

Current flight cycles growth – In Week 30 global flights were up to +2.5% YoY (vs 0.2% Week 31 ). China's flights were up to +23% (vs +3.7%). APAC ex-China was up

to -2.7% (vs -3.3%). Europe flights were down to +2.4% (vs +2.7%). US flights were

down to -2.9% (vs -2.3%). ME was up to -7.3% (vs -8.9%). Global passenger flights

were up to +2.4% (vs -0.3%), and freight was +3.9% (vs flat). Narrow body cycles

were up to +3.3% (vs +0.3%), while wide bodies were up to-2.5% (vs -3.8%).

Online flight tracker — All regional data and splits by aircraft type, can be viewed

on Velocity’s interactive platform.

Arvind Sharma

Samuel Seow, CFA

Filipe Nielsen

…