Airlines have been struggling with staffing shortages, fewer flights, and longer wait times. Ted Rossman, the senior industry analyst at Bankrate, said, “This summer, air travel was particularly messy as consumers unleashed pent-up demand, and the industry couldn’t keep pace.”
On the other hand, the high inflation is making travelers shift their holiday getaway plans between Thanksgiving and New Year’s to travel shorter distances or drive instead of flying. Investors’ pessimism towards the airline industry is evident from the ETF Series Solutions - U.S. Global Jets ETF’s (JETS) 24.6% year-to-date decline.
