“We expect this positive demand trend to run for many quarters, into 2023, ” it said on Tuesday, pointing out to rising Covid-19 vaccinations will spur a demand in leisure traffic.
“We expect the industry to sustain operating losses and negative operating margins for all of 2021, although to a lesser degree than in 2020, ” it said. The restoration of the ability to travel will relieve the tremendous pent-up demand to fly to visit friends and relatives and for vacations. “Additionally, we are changing the outlook even though travel activity in Europe in the first quarter was lower than we had forecast in November 2020.
Moody’s pointed out the strong recovery in US domestic travel demand that began in March 2021 highlights the benefits of the combination of vaccinations and a large geographic footprint for the return of domestic travel demand However, loosening government regulations to allow arriving passengers to move freely without quarantines or COVID-19 tests will be needed for the full return of air travel, of all types; this in turn will be needed to fully restore global activity to 2019 levels.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Australia Australia Latest News, Australia Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Moody’s revises outlook for global airline industry to positive | Malay MailKUALA LUMPUR, May 11 — Moody’s Investors Service has changed the global airline industry outlook to positive from negative, reflecting its expectations of widespread increases in air travel starting in the second half of 2021 and accelerating through 2022. In a statement today, the ratings...
Source: malaymail - 🏆 1. / 86 Read more »
Tourism industry faces collapse as govt continues to neglect whole industry, says Balik Pulau MP | Malay MailGEORGE TOWN, May 11 — The tourism industry in Malaysia is on the verge of collapse due to the RM100 billion in losses it suffered last year and this recent nationwide movement control order (MCO) 3.0 will further damage the industry, according to Balik Pulau MP Muhammad Bakhtiar Wan Chik. The... Nanti kena covid lah malaun The only tourism initiative the PN Govt has done so far is add a Dep Minister. Imagine you're a CEO of a company and one of it's departments is idling and almost redundant. Yet you employed a highly paid manager just to sit there. You need to have your head checked for worms. Could hv mobilized tourist guides as contact tracing workers , tour buses as transport for vaccination n ferrying covid patients , hotels as screening points / vaccination
Source: malaymail - 🏆 1. / 86 Read more »