Shifting travel patterns by consumers are forcing US airlines to guess at what is the 'new normal' as they seek to adjust by cutting flights, revamping networks and packing even more passengers into planes
CHICAGO, May 10 - Shifting travel patterns by consumers in a post-pandemic world are forcing airlines to guess at what is the "new normal" as they seek to adjust by cutting flights, revamping networks and packing even more passengers into planes.
"Today's flexible work conditions are helping to drive changes in ticket-purchasing patterns." Citi analyst Stephen Trent said. "Let's get used to it."Travel demand has also softened on days in the middle of the week, but has strengthened on peak days. A Reuters analysis of U.S. Transportation Security Administration data shows passenger traffic this year on average has fallen 14% on Tuesdays and Wednesdays compared with Mondays, and then it rebounds on Thursdays.
"The most common two days in the office are Tuesdays and Wednesdays," said Daniel Shurz, a senior vice president at Frontier Airlines. "That's why travel for leisure is the hardest on Tuesdays and Wednesdays." Since the Chicago-based carrier's network is more focused on business traffic, which has not fully recovered to pre-pandemic levels, its revenue suffered in the last quarter. United last month said it wants to expand its Florida network.
While the fare data has stoked concerns about consumer demand, Hopper's lead economist, Hayley Berg, said overall spending on travel has gone up.
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