Αssociated Press reports that the skies are clearing up a bit for airlines as states ease lockdown measures and travelers slowly return to airport check-in lines.
Following a pronounced slump in air travel in the spring, airlines are adding back flights as they hope to salvage some lost revenue during the key summer travel season. As of Monday, investors had driven shares for the major airlines back to their early March levels, before the coronavirus forced the U.S. economy to a standstill.
The airline industry has essentially been grounded for months after a plunge in passenger demand forced American Airlines, United Airlines and others to cut flight schedules. They were among the hardest hit companies as the coronavirus abruptly shut down overseas markets and then pushed the U.S. into a pandemic-induced recession. Even with the recent surge in airlines shares, the NYSE Arca Airline index remains well below its 2020 high from mid-February, when restrictions on international travel began to take hold.
Read the full report at thenationalherald.com
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