OOTO - Airline Stocks In A Holding Pattern

2024-07-08 19:45:00 ET

Summary

• From the summer of 2020 to early 2021, passenger traffic improved, but it wasn’t until the summer of 2021 that activity levels approached anything even close to normal.
• By last summer, passenger traffic had largely returned to its pre-Covid range, and this summer, we’ve seen traffic trends regularly exceed their pre-Covid range.
• Yesterday, the TSA screened 3,013,413 passengers, which was not only a record high but also the first time that more than three million passengers passed through TSA security checkpoints in a single day.

Throughout the early days of Covid, daily updates on the number of passengers screened by the TSA at US airports became a key gauge of mobility trends in the US. Early on, daily passenger counts cratered from a range of well over 2 million to less than 125,000 at the height of the lockdowns....

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