Will QAN survive?, page-4743

Airline Ticket Sales Unexpectedly Tumble

One of the big drivers of inflation during the late spring and early summer was - in addition to the relentless meltup in energy and commodities - the surge in airplane ticket prices amid seemingly endless demand, as millions of Americans were willing to pay anything after two years of quarantine, just to go travel anywhere and feel normal again.

But now that prices have more than caught up with travel enthusiasm, demand is tumbling, and as BofA airline analyst Andrew Didora writes today, system net sales (i.e., total bookings) took a sizable step back this week to -23.6% vs 2019 for the week ending 8/21 (compared to last week’s down -9.3%) the biggest drop since February. System volumes and pricing decelerated to -23.5% vs 2019 (vs -11.5% last week) and -0.1% vs 2019 (vs +2.5% last week).

https://www.zerohedge.com/economics/airline-ticket-sales-unexpectedly-tumble