SAVE - Airline bookings recovery hits turbulence as rising Delta cases factor in

Airline bookings for U.S. carriers decelerated for the fourth straight week with a significant step back to down -58.9% vs 2019 for the week ending August 15, per data from Bank of America. That is a notable drop from the -53.8% pace in the prior week and the worst level since the middle part of May. Rising Delta COVID-19 cases and high hospitalization rates in parts of the U.S. are attributed to causing the step back in demand. "As we exit the peak summer travel season and the delta variant continues to impact travel demand, we anticipate more softness in the near term," updates BofA on the softening trend. The firm believes the corporate travel recovery may be modestly pushed out given the current environment. Labor shortages and flight cancellations have also hit the sector over the last few weeks to cut into travel sentiment. Airline sector watch: American Airlines

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Airline bookings recovery hits turbulence as rising Delta cases factor in