The U.S. is set to lift COVID-19 test requirements for international travelers to cheers of the airline industry and other stakeholders, and two airlines stand to benefit the most, a Wall Street analyst said Friday.
“The testing requirement has been pointed to as one of the major impediments to unlocking travel demand, particularly on the corporate side, across the Atlantic,” Jefferies analyst Sheila Kahyaoglu said in a note Friday. COVID-19 testing can be expensive, and mandatory testing adds to trip costs, Citi analyst Stephen Trent said.
Business travelers long have been a profitable subgroup for airlines, as they usually snap up the more expensive premium seats and refundable economy seats.Unlike many others, the air carrier held off on retiring planes at the start of the pandemic, and also took delivery of widebody planes. American Airlines, meanwhile, has been hit by delivery delays with its Boeing Co.’s BA, -4.88% 787 widebody jets.
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