It’s been about three years since COVID-19 and measures taken to slow its spread brought the world to a screeching halt. One of the hardest hit industries was airlines. The numbers of travelers through TSA checkpoints fell from over two million most days in February 2020 to fewer than 100,000 per day through part of April (a drop of more than 95%).
Even with government infusions to keep the system intact, the financial losses were massive. Airlines and all travel-related industries were left with the same (or even higher) fixed expenses and almost no revenue. Companies were forced to lay off workers. Investments were delayed, and expenses were slashed to try to stay afloat.
Through most of 2020, passenger volumes remained a fraction of what they had been, though they began to edge up from the April 2020 lows. Many restrictions remained in place, and some people were naturally reluctant to travel even where it was officially allowed.
