Demand for domestic leisure air travel has reached 2019 levels, several airlines are reporting. Meanwhile, domestic ticket yields, which is the amount passengers pay airlines on average per mile flown, have also caught up to 2019.
"I would say there is not even pent-up leisure demand, it's just out in the open leisure demand," American Airlines chief revenue office Vasu Raja said during a presentation at the Wolfe Research Transportation and Industrials Conference Tuesday.
In a regulatory filing Monday evening, Alaska Airlines said demand for leisure travel has reached 2019 levels. The company said that its pre-tax margin will near breakeven this quarter and turn positive in the third quarter.
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United, in a Tuesday regulatory filing, said that yield on domestic tickets this month has exceeded May 2019 levels, a trend it expects will continue through the summer. United expects to reach positive earnings before interest, taxes, depreciation and amortization, or Ebitda, in June.
Delta president Glen Hauenstein offered similarly good news during a Wolfe Research conference presentation. Domestic leisure demand, he said, will be 100% restored by June, with yields nearly recovered and forward bookings above the 2019 level. Delta's load factor will exceed 75% for this quarter, with the load factor in June expected to be in the mid-80s.
Hawaiian also reported revenues that exceeded its previous guidance in a Tuesday regulatory filing, driven by strong demand in the North American market.
Raja said the only thing keeping American from being at 2019 booking levels is the carrier's own constrictions as it brings back capacity in a bumpy way, due in part to the uneven pace of reopenings by destinations both internationally and within the U.S.
Yields at American, he said, are at or above 2019 levels.