Fleet utilization of regional jets is returning to pre-pandemic levels faster than that of turboprops, according to IBA, aviation data and advisory consultancy.
Data from IBA’s InsightIQ platform indicates signs of recovery in regional jet fleet utilisation. Fleets were stored or parked in large numbers in August 2020, with only 49% of Embraer E190 aircraft active. A year on, fleet usage has grown with E190 fleet utilisation rising to 70% , a significant increase although still behind the 89% pre-pandemic utilisation levels in August 2019.
By contrast, turboprops are seeing a slower return towards pre-pandemic levels than regional jets. While the pre-pandemic utilisation of the global ATR72-500 fleet was at 73% in August 2019, it dropped to 49% at the same time in 2020, and has since made only a slight recovery to 54% in August this year.
Turboprops continue to see increased activity across North America, Europe & CIS and Latin America, with moderate declines in activity were tracked in Africa and Asia Pacific. Meanwhile, regional jets are tracking downwards in Asia Pacific and the Middle East but upwards in all other regions.
There have already been a considerable number of orders for regional jets so far this year, with 100 having been placed already – compared to 171 in 2019. Conversely, orders for turboprops are yet to recover with just 3 registered orders having been made in 2021. This contrasts with the 63 ordered in 2019.
Both regional jet and turboprop values have begun to stabilise following a steep decline as a result of the pandemic, with the value profiles of E190LR and ATR72-500 models beginning to track base values again – albeit at a market value approaching soft value in many cases. Base values are unchanged for now, but remain on watch.
“The recovery in regional jets so far this year has far outstripped that of turboprops, although both have maintained a similarly steady upward trajectory in the last quarter,” said Phil Seymour, IBA’s President. “The regional jet market is concentrated on the fast-recovering US region, but we are starting to see some positive movements in the turboprop market, driven in part by an uptick in flight utilisation in Europe. We expect to see a continuing recovery in the secondary market for these aircraft types, driven by a growth in traffic in certain global regions and by low production rates.”
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