Latest data from Airports Council International shows passenger and freight demand remains very soft, while the June edition of the UNWTO World Tourism Barometer shows international tourism declined by 8% between January and April compared to the same period last year.

Another downwards revision to global tourism forecast

The UNWTO has revised its forecast for the full year 2009, with international tourism now forecast to decrease by between -6% and -4% in 2009, though the pace of decline is “expected to ease during the remainder of 2009”.

In March, the UNWTO was expecting international tourism to stagnate (0%) or even decline slightly (-1% to -2%) throughout 2009, but this was revised to a decline of between 2% and 3% in May.

Jet fuel prices mixed in week rounding off June

Jet fuel prices were mixed in the past week (to 30-Jun-09), as the underlying crude price rose by 1.5%. But crude prices dropped heavily overnight on a weak jobs report from the US, falling almost 4% to below USD67 per barrel.

Jet fuel spot prices rose 0.3% in the week to 30-Jun-09 at New York Harbor, -0.8 at the US Gulf Coast, -3.2% at Los Angeles, but rose 0.6% in Amsterdam and 5.0% in Singapore.

Over the past year, crude oil prices have halved, while jet fuel prices are down by 55%, providing significant relief to airlines

Daily jet fuel prices (kerosene, cents per gallon) at New York, US Gulf Coast, Los Angeles, Amsterdam, Singapore vs Crude Spot price (WTI, USD per barrel): 23-Jun-09 to 30-Jun-09

Source: Centre for Asia Pacific Aviation & US Energy Information Administration

Daily jet fuel prices (kerosene, cents per gallon) at New York, US Gulf Coast, Los Angeles, Amsterdam, Singapore: 02-Dec-08 to 30-Jun-09

Source: Centre for Asia Pacific Aviation & US Energy Information Administration