Coronavirus prompting historic drop in air travel and jet fuel demand
Air travel — and the jet fuel powering it — are plummeting alongside most other parts of our modern economy as vast swaths of the world shut down to fight the coronavirus.
The big picture: Data that has newly become available shows the dramatic impact of global shutdowns, which will reverberate across the livelihoods of people working in these sectors.
By the numbers:
- Global oil demand for jet fuel has evaporated to 35% of normal levels in April and May, consultancy Rystad Energy projected Wednesday.
- The U.S. Transportation Security Administration screened a record low 97,130 people at airport checkpoints on Tuesday, compared to more than 2 million this time last year, a TSA spokeswoman said on Twitter.
What we're watching: Rystad predicts that jet fuel demand will gradually pick back up, but by December will still be far lower than pre-coronavirus levels.