COVID-19 resurgence, related curbs derail Asian aviation recovery

摘要

Singapore-The Asian aviation industry’s recovery has been clouded by a resurgence of the coronavirus pandemic and is poised for further headwinds due to possible disruptions in the coming months amid weakening global macroeconomics. According to industry sources, high infection rates, particularly in countries such as India, could derail aviation recovery and send jet fuel prices into a tailspin once again. The COVID-19 resurgence has pushed the FOB Singapore jet fuel/ kerosene cash differential to deep discount of minus $1.20/b to the Mean of Platts Singapore jet fuel/kerosene assessment on Sept. 21, falling $1.57/b since the beginning of the year. At its lowest level this year, the cash differential plunged to MOPS minus $4.67/b on May 4, Platts data showed, marking the lowest level since January 1998.