RLJ - Visa Mastercard American Express stand to gain from air travel recovery: Evercore

Indicators point to continued Q4 strength in the domestic air travel recovery, and that's good news for Visa (V +1.0%), Mastercard (MA +0.7%), and American Express (AXP +0.0%), writes Evercore ISI analyst David Togut in a note to clients. "The 7-day moving average of U.S. COVID-19 cases, a leading indicator for domestic restrictions and travel, continues to decline since mid-September," he said. In addition, Transportation Security Administration screenings as a percentage of 2019 levels improved to 85% from 83% in Evercore's prior Global Air Travel Tracker issue. That aligns with Delta Air Lines CEO's view that it will return to pre-pandemic levels by next summer. Togut says the most recent Tracker "continues to show positive signs" for Q4 2021. He notes that the Tracker "maintains positive international travel outlook with many countries lifting restrictions and increasing their vaccination rates." That bodes well for cross-border transactions, which had plummeted during  the

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Visa, Mastercard, American Express stand to gain from air travel recovery: Evercore