Airline travel picking up steadily, but still down 88% y/y. Yikes.
WSJ -
Data from the Transportation Security Administration (TSA) show the number
of travelers that went through TSA checkpoints on Thursday topped 300,000
for the first time in two months, but was still down significantly from a
year ago. The daily average per week through Saturday is on track to show
improvement for the fourth-straight week. Total TSA traveler throughput
reached 318,449 on May 21, down 88% from a year ago, but up 38% from
Wednesday. The daily throughput was the highest since March 23, and was
nearly four times the COVID-19 pandemic low of 87,534 recorded on April 14.
The daily average for the week to date has increased to 247,455, the highest
since the week ended March 22. Meanwhile, airline stocks fell Friday, with
the U.S. Global Jets ETF (JETS) shedding 1.8%, to underperform the S&P 500 ,
which was down 0.2%. Among the more active Jets components, shares of United
Airlines Holdings Inc. (UAL) shed 2.3%, Delta Air Lines Inc. (DAL) dropped
2.5% and American Airlines Group Inc. (AAL) declined 1.2%.
AAL, SAVE
