This has been great news for the besieged travel industry.
Investors appear to be expecting a sharp rebound next year and beyond, although there is a lot of uncertainty about travel plans for the coming weeks.
Although Carnival CEO Arnold Donald admitted that there has been “a small increase in short-term cruise cancellations” due to the increase in Covid cases, he added that ” reserves are strong “and that” we have not seen any significant impact “on the plans for the second half of 2022 and 2023.
“The current, albeit turbulent, environment has improved dramatically since last summer,” Donald said, adding that as the current trend of vaccine launching and advances in therapies continues, it should improve even more next summer. ”
With that in mind, Donald said Carnival has the potential to generate stronger revenue in 2023 than the year before the 2019 pandemic.
Business trips may return soon
Travel executives are also cautiously optimistic that people will return for business travel instead of relying on Zoom video conferencing and the endless chains of slacks and emails.
“Old behaviors die hard,” Delta CEO Ed Bastian said during a presentation to investors last week. “People like to be together … That’s why we travel. That’s why we’re social creatures.”
Health officials do not expect the Omicron variant to lead to a new round of blockades, and as long as that is true, airline experts believe leisure and corporate travelers will likely continue to feel safe boarding planes.
AAR shares rose 5% on Tuesday after its earnings report and rose another 3% on Wednesday.
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