Chart of the Week – Waiting to Fly
U.S. air travel is at a post-pandemic high. Is a summertime recovery on the horizon?
The number of daily travelers is likely to increase as the number of vaccinated individuals rises. Recent Bank of America credit-card data shows seniors, among the first to have access to vaccines, are booking flights at three times the rate of millennials. We believe there is a significant amount of pent-up demand for leisure travel as we move into the summer vacation season – and the market has noticed. Southwest Airlines, which focuses more on leisure travel, is down a mere 7% from its all-time high. Airlines oriented more towards business travel are lagging in their post-pandemic recovery.
TSA Checkpoint: Total Travelers
Source: TSA, Bloomberg, Ivy Investments. Dates shown are January 1, 2019 through March 14, 2021. This chart is being provided as a general source of information for education purposes only, and is not intended as a recommendation to purchase, sell or hold any specific security or to engage in any investment strategy.