Traveling isn’t what it used to be…
With the recent 2020 quarantine initially regulating travel only to what was deemed “necessary” to today’s high costs and continued spread of the Delta variant, some once devout travelers and globe trotters, this year, continue to find themselves staying home.
… But with the holiday season in full swing, the airlines, which usually look to this time of year as their busiest and best quarter for earnings, those that do choose to brave the skies could find this year’s travel accommodations a bit unusual…
Join us now as we dive into the details of this developing story and how your holiday travel plans could be impacted.
You Are Clear for Takeoff…
Many industries across the globe have suffered significant losses in revenue and earning ability over the past couple years…
With the recent pandemic building serious roadblocks that some companies have yet to be able to get around, others are just now starting to make headway as the world tries to get itself back to its pre-2020 health.
One of the industries still afloat but continuing to struggle is the airline industry which has seen a massive decline in revenue over the course of the past two years.
With travel plans being cancelled and/or postponed due to mandated travel restrictions during 2020, the airline industry, along with so many others, saw a serious downturn in revenue last year. That negativity has improved over time, but the devastation left by the shutdown, despite the industry working to get back into full swing, is something that airline officials continue to face on a daily basis in this post-pandemic environment.
With some people still being cautious and social distancing, the idea of being confined within a tight airplane cabin a bit unsettling.
And with travel costs skyrocketing as inflation and gasoline prices continue to surge to make up for the revenue lost last year, those that would be willing to travel may simply not be able to afford the extra expense.
Added to the customer retention problems the airlines are currently facing, behind the scenes, these companies are having even more problems retaining workers to support those customers that do show up. All this as the globe faces what is now lovingly being referred to as “The Great Resignation” … A time we currently find ourselves in when industries of all shapes and sizes are seeing their workforce, for whatever reason, simply walk away.
With an expected 20 million travelers from today until November 28th, airlines such as JetBlue, Southwest and American have all begun offering their remaining staff members attendance bonuses to avoid staffing crunches over the holiday season, according to CNBC.
While the expected 20 million travelers is definitely a step in the right direction (a number not seen by the industry since before the pandemic in 2019) up also are the number of flight cancellations as companies like the above mentioned American and Southwest continue to struggle to fulfill their ambitious seasonal schedules.
Discussing the recent holiday travel season, American Airlines CEO Doug Parker recently agreed that it was expected to be busy but, “We’re ready for it.”
Learn More Here…
If you’re interested in learning many other ways your coming holiday could be impacted by today’s recovering economy and markets, then we encourage you to sit down with Ask the Pros host Celeste Lindman now as she and her latest group of gathered market experts discuss this topic and much more during today’s latest episode!
P.S. – Market expert Fausto Pugliese is opening his LIVE trading and analysis room so you can have the opportunity to trade alongside him.