Airline bookings continued to fall back slightly in November from October, according to Bank of America data.
Systematic net sales were back 8.9% below the pre-pandemic level in 2019 for the week ending November 27 compared to 5.6% for the previous week. System volume decreased by 11.4% vs. -8.2% the previous week, while prices have stabilized this week at +2.8% vs 2019. Analyst Andrew Didora said that there does not seem to be a problem related to the holidays as the data for 2022 is for the week ending on 11/27 (Thanksgiving on 11/24/ 22) and the 2019 data was passed on 12/1 (Thanksgiving on 11/28/19).
Overall, trends have changed little since October. “As of mid-November, the 7-day TSA has now recovered about 90% of the threat (as of 12/1) compared to 96% recovered last week (and 98% recovered in mid-November),” he said. Didora.
Trends in both companies and countries were slightly down from last week, although prices were firm on both.
The data from BofA is one of the first signs that demand for airlines may be struggling due to lower prices.
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