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The latest data from ForwardKeys reveals that the Russian invasion of Ukraine has caused an immediate stall in flight bookings to Europe and within Russia domestically. In its second public analysis since the outbreak of war, ForwardKeys compared flight bookings in the week following the invasion, February 24th-March 2nd, to the previous seven days.
Excluding Ukraine and Moldova, which closed their air space, and Russia and Belarus, which were subjected to flight bans and safety warnings, the destinations worst affected were generally those closest to the conflict. Bulgaria, Croatia, Estonia, Georgia, Hungary, Latvia, Lithuania, Poland, Slovakia and Slovenia all saw a 30-50 per cent collapse in bookings.
All the other European countries, except for Belgium, Iceland, and Serbia, which saw single-digit drops, experienced a decline in bookings between ten and 30 per cent. Domestic flight bookings in Russia fell 49 per cent. Analysis by source market shows that intra-European air traffic was worse affected than transatlantic travel. Flight bookings within Europe fell 23 per cent, whereas they fell 13 per cent from the USA.
The only European air corridor left open to Russia is via Serbia, which is now acting as a gateway. This is most clearly demonstrated by an immediate uplift in seat capacity between Russia and Serbia in March and by the profile of bookings. Seat capacity scheduled in the first week of March shows around a 50 per cent increase in available seats for flights from Russia to Serbia, compared to February 21st (before full-scale military operations began).
Some 60 per cent more flight tickets were issued for travel from Russia to another destination via Serbia in the week immediately after the invasion than there were in the whole of January. Also, in January, 85 per cent of transfers from Russia via Serbia were to Montenegro; in the week after the invasion, the figure was 40 per cent, as Serbia became a hub for onward travel to Cyprus, France, Switzerland, Italy and elsewhere.
