· Airline share prices are up 12% this year, outperforming the market as investors take a positive view on restructuring efforts;
· Initial Q1 financial results show operating profit improvement in the US, but signs of weakness in other regions;
· Jet fuel prices fell almost 20% in April compared to the February peak, as expectations of growing non-OPEC oil supplies are combined with a weakening demand outlook;
· Passenger travel continues to increase strongly in line with improvements in business confidence;
· By contrast, air freight markets stalled in March as Europe and the US experienced economic setbacks;
· Passenger capacity expanded with further growth in the in-service fleet, while freight capacity declined in response to weakening demand;
· Passengers load factors remain strong and close to 80%, while freight load factors remain at their lowest levels since the post-crisis recovery;
· Passenger yields continue to trend upward in 2013, with current levels showing improvement on a year ago.