Asia Distillates-Jet fuel cracks drop as airlines cut April capacity

    SINGAPORE, April 27 (Reuters) - Asian refining margins for jet fuel dropped for a second
consecutive session on Tuesday, as regional aviation demand struggled with India's scheduled
flight capacity dropping this week in the wake of raging COVID-19 infections.
    Several countries across the globe including Australia, Netherlands and Kuwait have
suspended flights from India as the country's coronavirus death toll neared the bleak milestone
of 200,000.
    India's scheduled flight seat capacity, which has dropped 8.7%, or 257,000 seats in the week
to Monday, was 29.1% lower compared with the corresponding week in pre-COVID 2019, according to
aviation data firm OAG.
    Refining margins, also known as cracks, for jet fuel dropped to $4.57 per
barrel over Dubai crude during Asian trading hours, down from $5.62 per barrel a day earlier.
    Global air carriers have removed 6.9 million seats from their April schedules as "demand
faltered due to ongoing lockdowns across various parts of the world," OAG said in a statement.
    Cash discounts for jet fuel JET-SIN-DIF widened to 18 cents a barrel to Singapore quotes
on Tuesday, compared with a 7-cent discount on Monday.
    - While politicians hail digital health passes as the solution to aviation's COVID-19
crisis, airline bosses are still having sleepless nights about clogged up airports as they worry
how to deal with the millions who have already been vaccinated.
    - More than 220 million people have been fully vaccinated against the disease, according to
Our World in Data. Almost a billion have had at least one dose. 
    - But many were given shots before the development of new user-friendly, digital health
passes, raising uncertainty over the status of millions of certificates issued beforehand, and
industry fears of a paper trail that could gum up airports.
    - No gasoil deals, no jet fuel trades
    - China's Shandong Maritime Safety Administration said on Tuesday that the tanker A
Symphony, carrying around 1 million barrels of oil, has spilled oil in the Yellow Sea.

    - Australian fuel supplier Viva Energy Group said it expected to receive government
aid of about A$19.6 million ($15.28 million) for the first quarter to keep its Geelong refinery
 CASH ($/T)              ASIA CLOSE       Change   % Change   Prev Close  RIC
 Spot Gas Oil 0.5%                  68.3     0.91       1.35       67.39  GO-SIN
 GO 0.5 Diff                       -1.86     0.02      -1.06       -1.88  GO-SIN-DIF
 Spot Gas Oil 0.25%                68.46     0.91       1.35       67.55  GO25-SIN
 GO 0.25 Diff                       -1.7     0.02      -1.16       -1.72  GO25-SIN-DIF
 Spot Gas Oil 0.05%                68.71     0.91       1.34        67.8  GO005-SIN
 GO 0.05 Diff                      -1.45     0.02      -1.36       -1.47  GO005-SIN-DIF
 Spot Gas Oil 0.001%               69.91     0.98       1.42       68.93  GO10-SIN
 GO 0.001 Diff                     -0.25     0.09     -26.47       -0.34  GO10-SIN-DIF
 Spot Jet/Kero                     68.52     0.79       1.17       67.73  JET-SIN
 Jet/Kero Diff                     -0.18    -0.11     157.14       -0.07  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 Ramakrishnan M.)