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The Winners and Losers in the $550B Bipartisan Infrastructure Bill
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American Air to Buy JetSmart Stake, Expand South America Flying
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American Airlines Delivers an Additional 3 Million Vaccines Abroad on Behalf of White House COVID-19 Task Force
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The return of the corporate jet set is vital to keeping the recovery in air travel going. U.S. airlines have benefited from a robust snapback in leisure travel, and some are now eyeing their first profits without the help of government aid. But come fall, that booming leisure demand will taper off. There are only so many vacations and trips to reunite with family that people can take. With an international travel recovery moving more slowly than the airlines would like amid continuing Covid restrictions, it will largely fall to business fliers to fill up the planes.
Will it happen? As optimistic as U.S. airline executives are about the prospect, investors appear skeptical: The S&P 500 Airlines Index has slid more than 15% from its June peak. To be sure, not a single one of the major U.S. carriers has reported any kind of impact on bookings from the rise in the highly transmissible delta variant across the country. It helps, too, that face masks are still required on a
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This is the latest example of disrupted fuel supplies because of trucking woes. While the whole country has plenty of gasoline and even a glut of jet fuel, truck drivers who distribute supplies have been hard to come by just as travel demand comes roaring back. That has left some far-flung filling stations at least briefly without fuel in states from Florida to Iowa to Oregon and has now sparked the warnings from airlines.
For jet fuel, U.S. stockpiles stand at their highest seasonal level in a decade. That’s partly because oil refiners are trying to cash in on resurgent gasoline demand by raising production rates, which indirectly leads to more jet fuel output. Shortages of transportation equipment, drivers and pipeline-space allocation are being blamed for the supply-distribution problems.