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Home»Investments»Air travel improves: fewer flight cancellations, more airport investment
Investments

Air travel improves: fewer flight cancellations, more airport investment

prosperplanetpulse.comBy prosperplanetpulse.comJuly 5, 2024No Comments2 Mins Read0 Views
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Rich Tomaselli

After a year marked so far by the Boeing scandal and labor disputes between flight attendants and management at several airlines, there has been some good news for the airline industry.

Flight cancellations are at their lowest level in years.

Despite air travel reaching record levels this year, Federal Aviation Administration figures show just 1.4% of flights will be canceled in the first half of 2024, the lowest rate in nearly more than a decade.

A similar percentage was recorded in 2015.

Weather continues to be the leading cause of flight cancellations, according to the latest airline data reported to the U.S. Department of Transportation.

On June 23, the Transportation Security Administration (TSA) screened more than 2.99 million passengers at U.S. airports, the most number of airline passengers the agency has ever screened in a single day.

“The record increase in air travel this year is another good sign for our economy, with more Americans taking to the skies than ever before,” Transportation Secretary Pete Buttigieg said. “To avoid travel headaches, the Biden-Harris Administration has taken historic steps to modernize our airports and expand passenger protections for a smoother travel experience.”

President Joe Biden’s bipartisan infrastructure bill would invest $25 billion in U.S. airport infrastructure over the next five years. This week, the Federal Aviation Administration announced it would award $289 million in airport infrastructure grants to 40 states, plus provide an additional $1 billion in funding for airport terminal modernization.

More than 200 airport modernization projects are underway.

But the U.S. Travel Association said there is still much work to be done.


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Topics explored in this article

Airlines & Airport Travel Intel



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