Delta Air Lines will kick off the airlines’ first quarter earnings reporting on Wednesday, at what seems like a best of times, worst-of times period for the industry.
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The good news comes daily from the Transportation Security Administration, which reports the number of people who pass through airport security. The numbers show strong travel demand, fed by hope that the pandemic has ended. On Monday, for instance, 2.18 million people cleared security, up 49% from the same day a year earlier.
European benchmark Brent crude reached nearly $140 a barrel in early March, but has since fallen back to $98.49 per barrel on Monday, its first close under $100 since March 16. U.S. benchmark West Texas Intermediate crude was trading at $99 Tuesday morning, down from around $123 last month. Both are still high. Before the Ukraine invasion, the last time oil prices traded at $100 was 2014. Prices have climbed steeply since 2020, when they averaged about $39 a barrel.
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