Coronavirus, lockdown: International plane travel is about to take off

Covid-19 became a pandemic because airplane passengers carried the new coronavirus with them around the world. As that became clear, airlines grounded nearly all of their fleets, governments issued travel restrictions and mandatory quarantines, and tourist attractions and conferences closed down. With no reason to fly, a quick recovery for air travel seemed unlikely. Warren Buffett even dumped his airline stocks, claiming that the "world has changed." Passengers also wouldn't feel safe packed inside a metal tube for hours, would they? Happily for the industry, if not for the climate, the seemingly insurmountable barriers to air travel have begun to look less daunting. "We believe the worst is behind us, and we're on the uptick," American Airlines' boss, Doug Parker, said after a surge in travel over the US Memorial Day holiday weekend. Investors have taken notice. The Bloomberg Americas Airlines stocks index has rebounded by almost one-third from the mid-May low, and European carriers have made similar gains. Shares in German tour operator Tui have risen too. Such optimism feels jarring when airlines, American Airlines included, are poised to cut thousands of jobs. Most are still burning huge amounts of cash. But Parker is probably right to expect a continued recovery, at least on domestic and short-haul routes. This won't be enough to put debt-laden airlines on a secure footing, and a full demand recovery probably won't happen for a couple more years. But, right now, a desperate industry will take any good news it can get. <br/>