The US Global Jets ETF co-creator Frank Holmes says some US airlines have reported their first operating profit since the start of the COVID-19 pandemic as strong demand for air travel and high fares allowed the carriers to overcome rising fuel prices.
The Monthly JETS Market Report for July noted that a CNBC report that Delta Air Lines (NYSE:DAL) announced on July 18 an order for 100 Boeing airplanes worth upward of $13 billion, which indicates the company is bullish on the future of flight demand.
Holmes said that the pandemic has also resulted in people becoming more adaptable, which many gaining the skills needed to work remotely while travelling.