Issue Summary

Airlines are often the chief economic victims of terrorism. But last week’s incidents in Brussels hit even closer to home than usual, with one of the attacks happening at the city’s airport. That raises the gloomy specter of higher security costs, as well as another demand shock during the busy Easter holiday period—and perhaps more importantly in the prime booking season for peak summer holiday travel. The airport, meanwhile, will remain closed for at least another few days, forcing Brussels Airlines and others to temporarily operate from other airports—Ryanair, for one, moved its flights to Charleroi Airport south of the…