Thanksgiving travel surges, and airline and cruise stocks are expected to rise!
Passenger numbers hit record high
Millions of Americans expect to travel long distances before Thanksgiving, especially Wednesday and Sunday, December 1, with more than 3 million passengers expected every day. According to the Transportation Security Administration (TSA), more than 2.7 million passengers passed security checks on Tuesday, setting a record high on the Tuesday before Thanksgiving and higher than last year.
This peak in tourism has put tremendous pressure on the U.S. transportation network. The American Airlines Association, an industry group, predicts that there will be more than 3 million passengers on Wednesday and Sunday, December 1, making it one of the busiest travel days of the year.
Flight delays and weather impacts
As travel demand surges, flight delays have also become a major issue. The Federal Aviation Administration (FAA) said winter storm warnings and airport staff shortages were the main reasons for flight delays. On Tuesday, a total of 4,800 flights were delayed on domestic and international flights, and 82 flights were canceled.
Winter storm warnings on the east and west coasts have made flights more vulnerable in some areas, particularly Newark Airport near New York City, where air traffic has been severely affected by a shortage of air traffic controllers. Still, the U.S. Department of Transportation and the Federal Aviation Administration have begun implementing traffic flow management measures in the hope of reducing the headaches caused by understaffing during the holidays.
The cruise industry is booming
In addition to traditional flights, other modes of transportation have also ushered in a boom, especially the cruise industry. According to predictions from industry organizations such as AAA, approximately 80 million Americans will travel at least 50 miles, including a large number of passengers who choose to travel by cruise. Royal Caribbean said almost the entire fleet will sail from November 26 to December 2, which equates to nearly 150,000 passengers boarding, a 20% increase from last year.
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