PARIS (REUTERS) – Air fares have fallen as much as 30 per cent since the start of the year in North America and Europe, according to the first of a new series of industry data, while stabilising on a smaller decline in Asia where some coronavirus lockdowns are being eased. The figures from Skytra, an Airbus-owned airline hedging business, offer early clues to the difficult recovery awaiting airlines as they prepare for an eventual lifting of restrictions on what is likely to be a changed travel market. After flatlining for weeks, forward bookings show small improvements for May travel between Asia and Europe or North America, and positive US domestic reservations for the winter holidays. But they are still down more than 75 per cent on last year. The data sends a more ominous signal on fares – days after Ryanair boss Michael O'Leary predicted that a traffic rebound would be driven by heavy discounting. "That's what we're seeing now," said Mr Matthew Tringham, strateg..