US airlines on Monday pointed to concrete signs of an industry recovery as a slowing pandemic drives spring and summer leisure bookings, pushing shares to their highest level since the coronavirus crisis hit the sector a year ago.
As a result, people are booking vacations and visits to friends and relatives, helping to slow the pace of expected revenue declines in the first quarter, they said. The positive trend in core cash burn is expected to continue after March, assuming the current bookings trajectory remains in place, Kirby said. United is the first to say it could hit the industry's cash burn milestone.Delta Air Lines is “cautiously optimistic” that it can halt its cash burn this spring, CEO Ed Bastian said.
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