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Aug. 4, 2021, 2:55 p.m. EDT

U.S. air-travel rebound stalls, Citi says

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By Claudia Assis

An uptick in domestic air travel, mostly related to leisure travel, has stalled, Citi analyst Stephen Trent said in a note Wednesday. "The booking curve over the last seven days shows weaker U.S. domestic trends vs. 2019," with revenue from August travel down about 35%, softer by about 15 percentage points and 20 percentage points compared with a month ago, and September down about 20%, lower by 20 percentage points to 25 percentage points. While the real-time daily air passenger counts in the U.S. "remain strong," including a pandemic-era high of more than 2.2 million passengers on Aug. 1st, "it is possible that concerns about new variants, western wildfires/droughts and the seasonal roll-off in personal travel are driving some near-term volume softness," he wrote. In late trading Wednesday, shares of all major U.S. airlines traded down on Wednesday, with Delta Air Lines Inc. /zigman2/quotes/200327741/composite DAL +2.21% down nearly 4%, United Airlines Holdings Inc. /zigman2/quotes/205037281/composite UAL +2.78% losing 2.9%, and American Airlines Group Inc. /zigman2/quotes/209207041/composite AAL +2.34% falling 2.4%. The S&P 500 index /zigman2/quotes/210599714/realtime SPX +0.15% fell 0.3%.

/zigman2/quotes/200327741/composite
US : U.S.: NYSE
$ 43.53
+0.94 +2.21%
Volume: 13.48M
Sept. 24, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$27.86 billion
Rev. per Employee
$231,014
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/zigman2/quotes/205037281/composite
US : U.S.: Nasdaq
$ 48.79
+1.32 +2.78%
Volume: 12.24M
Sept. 24, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$15.79 billion
Rev. per Employee
$206,384
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/zigman2/quotes/209207041/composite
US : U.S.: Nasdaq
$ 21.39
+0.49 +2.34%
Volume: 39.97M
Sept. 24, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$13.85 billion
Rev. per Employee
$168,812
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/zigman2/quotes/210599714/realtime
US : S&P US
4,455.48
+6.50 +0.15%
Volume: 1.69B
Sept. 24, 2021 5:05p
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