The world's airlines are paring back capacity deployment this month, growing their available seat kilometres (ASK) by 5.5% year-on-year - the slowest pace of growth this year. According to Innovata, the world's airlines are scheduling just a 3% increase in flights and a 4.5% increase in seating capacity. It follows last week's warning from IATA that it is "still expecting a general weakening in passenger traffic as we head toward the year-end”.

However, the world's LCC continue to buck the global trend, expanding their flights, seats and ASKs by 5.6%, 6.3% and 7.4%, respectively, year-on-year. By seats per week, LCCs now command 22.3% of global aviation. There are a few exceptions to the LCC growth rule, with Ryanair and easyJet enacting seasonal capacity reductions, though this year's cutbacks are particularly harsh.