Our US airline performance index (updated in our morning call each day) combines passenger activity, flights, and load factor data to provide a comparative performance statistic using 2019 levels as a baseline.  We’re seeing a mild downturn again in late January of 2021.  The question for us is whether the new strains and potential additional lockdowns will further depress the industry, or if vaccinations will result in a more rapid turnaround in performance in 2021.

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