VACCINE news ‘not yet transformed into bookings’ say travel operators.
The Travel industries recovery depends on control of the coronavirus, the positive news on vaccines is generating “not very much” interest in flying and bookings are “exceptionally weak”. That is the view of Iata chief economist Brian Pearce, who said: “We’ve seen no improvement in international markets really for the last three months.”
He said the debt carriers have been forced to take on will be “a considerable burden” and warned: It could certainly trigger failures.” Pearce said: “The news on vaccines has been very encouraging. It does mean light at the end of the tunnel, but we’re still in the tunnel and there is some way to go to get out of it. In October, there was a further slowdown of the muted travel recovery we saw in the summer. Domestic markets are still expanding but at a slower rate and are at about 40% of where they were last year. International markets have been flat-lining. Traffic is still almost 88% down on last year.”
“The international situation is dire, with load factors below 43% and deteriorating,” he said.
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