Summer 2019 was, by some measures, the U.S. airline industry’s best-ever peak travel season
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However, in reality summer 2019 was, by some measures, the U.S. airline industry’s best-ever peak travel season. Beyond that, in a bit of own horn-tooting, the TSA reported that of the record crush of people trying to clear through its security checkpoints this summer, 99.7% of them had to wait less than 30 minutes in standard security check lanes. And 98.9% of those who used TSA PreCheck lanes spent less than 10 minutes getting cleared to enter the “air side” of U.S. airport terminals.
To be sure, that is a real, though perhaps exaggerated concern for those keeping an eye on mid- and long-term economic trends. But like the little boy who cried wolf, the USTA has been airing concerns about weak foreign travel to the U.S. for more than two years now – and not so subtly placing the blame for that on President Donald Trump’s personal style as much or than on his policies.
And that, as Delta’s chief financial officer Paul Jacobson admitted at an investors’ conference last week in Boston, is too uncomfortably full for an airlineAnd that says nothing about how uncomfortably full it is for the poor passengers stuffed into the ever-smaller and ever-less comfortable seats on U.S. airliners these days.
Such foreign demand may be softer than a year or two ago. And the U.S. may be losing bits of global foreign travel market share; a situation that shouldn’t be ignored. But given airlines former financial frailty and vulnerability to even the tiniest hiccup in demand, foreign or domestic, these remain pretty great times for them and, presumably, all those people buying tickets to travel this past summer. You just couldn’t tell it from their current, saggy share prices.
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