ARRA Encourages Operational Flexibility as Recovery Slows
Air travel news this summer has been dominated by headlines about cancellations, delays, pilot shortages, and frustrated passengers. It has been a summer of discontent! But …
… Lurking in the background is a more serious threat to our industry’s recovery: as reported in a recent article in the Washington Post, American consumers are pulling back on travel. Adobe Analytics reports that U.S. flight bookings were down 2.3% in May from a month earlier. A Barclays Bank analysis of credit card transactions shows spending on services like travel has slowed to half the pace seen at the beginning of the year. Charles Schwab notes “travel-related spending ls weakening.” The Post further reports flight searches on Kayak are down 13% in comparison to the same period in 2019.
All indicators point to weakness in passenger numbers later this summer and into the fall – a clear and present risk to the entire aviation ecosystem’s recovery. The watchword remains flexibility: ARRA encourages its airport partners to keep flexible operating policies and practices to allow a swift response to quickly changing conditions.
We invite you to read the Washington Post article here.