Asia Distillates-Jet fuel cracks gain as flight schedules improve

    SINGAPORE, July 28 (Reuters) - Asian refining margins for jet fuel climbed on Tuesday,
supported by an improvement in flight schedules primarily on domestic routes and steady air
freight demand.
    Refining margins or cracks for jet fuel rose for a second consecutive session
to $2.30 a barrel over Dubai crude during Asian trading hours, up 64 cents from a day earlier.
    The jet cracks averaged $2.01 a barrel over Dubal crude in June, after averaging at a
discount of $1.08 a barrel in May, the month the refining margins saw the worst impact of the
COVID-19 pandemic, Refinitiv Eikon data showed.
    "Globally, the number of scheduled flights is now exactly half of where it was a year ago,
reflecting a continued improvement in airline schedules," aviation data firm OAG said in a
    Scheduled flights in India were down 61.7% in the week to July 27, versus the same period a
year ago. This compares with a year-over-year drop of 69% for the month of June.
    Japan's scheduled flights in the week to Monday were 32% lower than the corresponding
year-ago period. This compares with a decline of 45% last month.
    China Southern Airlines on Tuesday rolled out an "all you can fly" pass,
becoming the latest in a fleet of cash-strapped carriers to join a promotional craze that
analysts say has helped revive the coronavirus-ravaged air travel market.
    At least eight of China's dozens of airlines have introduced similar deals since June, and
industry watchers say the packages have been a shot in the arm in a country where daily flights
last month recovered to 80% of pre-coronavirus levels.
    Cash discounts for jet fuel JET-SIN-DIF were at a discount of 29 cents a barrel to
Singapore quotes on Tuesday, compared with a 30-cent discount on Monday.

    - No gasoil deals, no jet fuel trades
    - Vietnam has suspended all flights to and from Danang for 15 days after at least 14 cases
of the novel coronavirus had been detected in the city, the government said on Tuesday.

    - Oil prices were steady on Tuesday as hopes for additional U.S. measures to stimulate the
economy countered a demand outlook dampened by rising of coronavirus cases across the globe.

 CASH ($/T)            ASIA CLOSE       Change   % Change   Prev Close  RIC
 Spot Gas Oil 0.5%               49.00     0.43       0.89       48.57  GO-SIN
 GO 0.5 Diff                     -0.93     0.01      -1.06       -0.94  GO-SIN-DIF
 Spot Gas Oil 0.25%              49.64     0.43       0.87       49.21  GO25-SIN
 GO 0.25 Diff                    -0.29     0.01      -3.33       -0.30  GO25-SIN-DIF
 Spot Gas Oil 0.05%              50.15     0.43       0.86       49.72  GO005-SIN
 GO 0.05 Diff                     0.22     0.01       4.76        0.21  GO005-SIN-DIF
 Spot Gas Oil 0.001%             50.19     0.37       0.74       49.82  GO10-SIN
 GO 0.001 Diff                    0.27    -0.05     -15.63        0.32  GO10-SIN-DIF
 Spot Jet/Kero                   45.03     0.86       1.95       44.17  JET-SIN
 Jet/Kero Diff                   -0.29     0.01      -3.33       -0.30  JET-SIN-DIF
 For a list of derivatives prices, including margins, please double                     
 click the RICs below.                                                  
 Brent M1                                                                               
 Gasoil M1                                                                              
 Gasoil M1/M2                                                                           
 Gasoil M2                                                                              
 Regrade M1                                                                             
 Regrade M2                                                                             
 Jet M1                                                                                 
 Jet M1/M2                                                                              
 Jet M2                                                                                 
 Gasoil 500ppm-Dubai                                                                    
 Cracks M1                                                              
 Gasoil 500ppm-Dubai                                                                    
 Cracks M2                                                              
 Jet Cracks M1                                                                          
 Jet Cracks M2                                                                          
 East-West M1                                                                           
 East-West M2                                                                           
 LGO M1                                                                                 
 LGO M1/M2                                                                              
 LGO M2                                                                                 
 Crack LGO-Brent M1                                                                     
 Crack LGO-Brent M2                                                                     
 (Reporting by Koustav Samanta; Editing by Devika Syamnath)