Airline bookings stabilize again as focus turns to 2022 corporate demand

Airline booking trends have stabilized after an uneven stretch that saw deceleration amid concerns over the Delta COVID variant, according to the latest report from Bank of America. System sales were down 62.0% and domestic volume was off 29.9% compared to 2019 levels, which is noted to be right in line with the trend in mid-August before the COVID spike in cases and hospitalizations.

Importantly, corporate demand has held steady the past four weeks in front of a period that historically been the highest weeks of bookings for the year as companies set their plans for next year. “While airlines still expect a strong holiday period driven by the leisure demand seen over the summer, the consensus is growing among management teams that the corporate recovery is likely pushed back to 2022 from this fall given the return to office delays of major companies,” updates BofA.

Clark Schultz www.seekingalpha.com