Issue Summary

The airline recovery continues, but so does Covid’s spread. In the U.S., airport traffic remains on a steady upward trajectory, especially in states that reopened their economies and tourist attractions early. Those same early openers though, including the giant Florida and Texas markets, are now experiencing Covid outbreaks, threatening the recovery. China, much further along in controlling the diseases, discovered a new cluster of cases in Beijing last week. Far more widespread is a surge of new cases in South America (led by Brazil and Mexico) and the Indian subcontinent.