What does the resurgent travel market mean for local airline stocks?
Airline stocks such as Qantas Airways (QAN) and Air New Zealand (AIZ) are on the radar of many investors right now, as the travel sector bounces back from the COVID-19 induced downturn. Domestic tourism is forecast to return to an average pre-pandemic levelin 2022-23, and to surpass its 2018-19 peak the following year, according to Australian Government figures. According to the latest airline monitoring report from the Australian Competition and Consumer Commission, the cheapest flight ticket prices increased 56% in August this year, in comparison to just four months prior, when they fell to an 11-year low.
What does the resurgent travel market mean for local airline stocks?
Airline stocks such as Qantas Airways (QAN) and Air New Zealand (AIZ) are on the radar of many investors right now, as the travel sector bounces back from the COVID-19 induced downturn. Domestic tourism is forecast to return to an average pre-pandemic levelin 2022-23, and to surpass its 2018-19 peak the following year, according to Australian Government figures. According to the latest airline monitoring report from the Australian Competition and Consumer Commission, the cheapest flight ticket prices increased 56% in August this year, in comparison to just four months prior, when they fell to an 11-year low.