Issue Overview

Where Are My Planes

Where Are My Planes

May 8th, 2023 at 12:35 AM EDT
33 min read

Issue Overview

There’s lots of nervous talk about the trajectory of the global economy, perhaps with some justification given rising interest rates, banking stress, lingering inflation, ongoing geopolitical tensions, weak freight markets, and cooling labor markets. There’s a more optimistic scenario, however, and airlines are feeling it. Travel demand, for one, remains almost universally strong, with even China now finally joining the party. The average price of U.S. Gulf Coast jet fuel in April was down 39 percent year-over-year. Oil prices have dropped to a level consistent with earlier periods of healthy economic growth — and yes, there’s a correlation. A strong U.S. dollar, which greatly pressured global governments and companies including airlines, has now depreciated significantly against most major currencies. What’s not to like?

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