European airline capacity set to rise in first half of 2024

European airlines’ capacity is set to rise in every market in the first half of 2024, according to a Bloomberg Intelligence report. Transatlantic capacity is leading the way with a rise of 8.4%, surpassing 2019’s fourth quarter capacity. US and European joint ventures have prevented competition, thus putting fares under less pressure. The report also found that intra-Europe competition could intensify, posing the greatest risk in particular to budget carriers like Ryanair and Wizz Air. “European airlines may see increasing competition in all markets in H1 as capacity returns at strong growth rates, which will likely pressure fares and profits,”