Key Takeaways
- Air travel over the Fourth of July Independence Day weekend broke records, while the Transportation Security Administration said Sunday it screened more than 3 million people.
- More than 10 million people passed through TSA screening points between Wednesday and Sunday.
- As travel demand remains strong, several major U.S. airlines are due to release earnings reports later this month.
Demand for air travel has remained high throughout the first half of the summer, with the Transportation Security Administration (TSA) reporting that more than 3 million people passed through TSA checkpoints on the Sunday after the Independence Day holiday.
The figure surpassed the 3 million mark for the first time this year and is up from about 2.6 million people screened by TSA officers at airports nationwide on July 7 of last year.
Travel demand remains high ahead of airline earnings releases
In the wake of the pandemic, Americans’ willingness to travel has reached record levels: About 71 million people are expected to travel by plane, car or other means during the week of Independence Day, up 5% from last year and 8% from 2019, according to the American Automobile Association.
A survey conducted by American Express (AXP) earlier this year found that 84% of respondents said they expected their travel spending this year to be higher or the same as last year.
Rising demand for travel boosted major airline revenues in the first quarter and is likely to continue to do so when airline giants like Delta Air Lines (DAL), United Airlines (UAL), American Airlines (AAL), and Southwest Airlines (LUV) report earnings later this month. Travel around Memorial Day also hit a record earlier this year.
The airline’s international trade group last month raised its profit forecast for global commercial air travel to $30.5 billion from $25.7 billion.
