For Airlines, It’s Looking More Like 2019 Again

U.S. carriers are reaping the rewards as a surge in domestic air travel has exceeded forecasts.

The aviation recovery is gaining momentum. A summer travel bonanza is exceeding expectations, helping airlines earn profits again and brightening the outlook for the rest of the year. It’s a welcome relief for a battered industry and a sign that the rebound that began this spring appears to be here to stay. The economic upturn, aggressive cost-cutting and an enormous federal stimulus that paid many salaries have helped to improve the finances of the largest carriers, which took on vast amounts of debt and lost billions of dollars during the pandemic.