'Demand is as strong as we have ever seen it,' said American Airlines CEO Robert Isom.
DALLAS, Texas -- U.S. airlines say they have hit a turning point: After a lousy first quarter, they expect to be profitable as Americans return to travel in the biggest numbers since the start of the pandemic.
Industry officials attribute rising airfares to a combination of covering higher fuel costs, a limited number of flights compared with schedules before the pandemic, and strong demand. American said overall business travel is 80% of pre-pandemic levels, dragged down by corporate travel, which is only 50% of 2019 levels. Isom said, however, that corporate bookings are the highest they have been since the start of the pandemic,"and we expect that to continue as more companies reopen their offices."
A major challenge will be the limited supply of pilots, which could limit the ability of airlines to operate as many flights as they would like. American's passenger-carrying capacity will also be lower than planned because deliveries of new Boeing 787 jets have been delayed by production problems at Boeing factories.
Alaska Air Group, the parent of Alaska Airlines, said Thursday that it lost $143 million in the first quarter, compared with a $131 million loss a year earlier. Revenue more than doubled to $1.68 billion but was down 10% from the same quarter in 2019.
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