American Air Travel Industry Prepares for Travel Boom in 2024

The US travel industry reeled under the impact of the Covid pandemic for two years 2020 & 2021. When the industry revived in 2022 with travelers showing a strong desire to travel in both domestic and international segments, there was an operational meltdown.  

Southwest Airlines (LUV.N) experienced significant operational disruption, leading to the cancellation of nearly 17,000 flights and causing inconvenience for approximately 2 million customers.
As a result the TaxiCab industry also suffered last year. The Christmas holiday season was affected.

According to Mr Shafan Nath, founder of Boston Airport Express -a leading Boston taxi cab service provider, “We are expecting a good turnout of both domestic and international tourists at Logan International Airport. Three consecutive years of bad business have been lethal to many of us. Last summer there were about 25% flight cancellations.”

According to AAA estimates, approximately 42.3 million Americans are expected to travel during the U.S. Memorial Day holiday weekend on May 29.

The Federal Aviation Administration anticipates a total of nearly 313,000 flights to be operated during the seven-day period ending on May 30, marking a 4.5% increase from 2022 and just slightly below the pre-pandemic levels of 2019.

TripAdvisor also reports a surge in demand for international trips this summer, leading to higher airfares to Europe and Asia, which have reached their highest point in over five years.

While airlines have shown improved performance this year, there is a shortage of air traffic controllers, resulting in reduced flights in the New York City area. To compensate for the decrease in the number of flights, carriers are utilizing larger aircraft.

Image Credits- Boston Logan Airport

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