US Air travel rises to highest level recorded in nearly a year
US air travel rises to the highest recorded level in over a year due to an increase in travel demand. With vaccination and dropping of COVID19 cases, many are opting to travel. With this, shares of major airline companies in the US rose on Monday.
"Demand will increase sharply at the point where vaccines have been widely distributed and border restrictions are eased, and not prior. Expect that in the second half of 2021, possibly sooner if vaccine distribution improves," said Andrew Nocella, chief commercial officer of United Airlines
In the last four days, 5.2 million passengers have traveled through various airlines in the US. United Airlines has said they expect to receive a positive flow in revenue for the first time much sooner than expected in March.
"The last three weeks have been the best three weeks since the pandemic hit," said Doug Parker, American CEO
Passenger travel is expected to remain above 2020 numbers all throughout the year however the demand is likely to remain much lower than that of 2019.