Airline Stocks Lift as Memorial Day Weekend Travel Surpasses Pre-Pandemic Levels
More people were reportedly traveling through airports this Memorial Day weekend compared to the same holiday period before the pandemic.
TSA’s data showed that nearly 9.8 million people have been screened over the weekend. This Memorial Day holiday period topped the prior highest number of screenings in 2019 by roughly 300,000.
The results that Memorial Day provided have some people thinking this is indicative of a very busy summer of travel. In fact, Senior Vice President of AAA Travel, Paula Twidale, said in a statement, “This summer travel season could be one for the record books, especially at airports.”
Last Memorial Day Weekend, air travel was disrupted by bad weather and staffing shortages, according to CNBC. However, it seems like even with higher interest rates, and increased prices on food and housing costs, people are still prioritizing travel this year.