The airline industry was one of the worst affected sectors during the pandemic. However, the industry has been rebounding with declining coronavirus cases and surging travel demand ahead of the spring season. According to a Forbes report, airfares rose 33% in mid-February, owing to surging oil prices; but failed to deter travel demand. As the Russia-Ukraine dispute worsens, airfares might increase further. However, pent-up demand amid an economic rebound is expected to buoy the industry.
U.S. airports witnessed crowds of travelers over Presidents’ Day weekend, with the Transportation Security Administration screening nearly 8.4 million people. This momentum is expected to extend for the long run, as worldwide travel restrictions are rescinded.
