Analysis Each CAPA Live, held on the second Wednesday of each month, contains a summary of the latest key developments by region. In the Apr-2021 report: - Following months of rapid recovery in the second half of 2020, China's recovery experienced setbacks entering 2021. - Chinese airlines expected to remain in the red in 1Q2021, due to the missed opportunity during the Lunar New Year, when citizens were strongly encouraged to stay put. - Second wave of recovery under way as demand, load factor and airfares on upward trajectory. - International market will remain largely closed off as vaccine rates and effectiveness remain below expectation.