Airlines Are Gathering Momentum for a Short Haul
Employees wearing protective face masks serve travelers at the Air France-KLM baggage drop-off area at Charles de Gaulle Airport, in Roissy, France, on May 14.
Photographer: Cyril Marcilhacy/BloombergThis article is for subscribers only.
One of the few sectors left behind in the sharp April rebound has finally taken off. European airlines have rallied hard in the past few days, spurred by bailouts and economies reopening. Full recovery may still be a long way down the line, but investors don’t want to be left behind.
The Bloomberg EMEA Airlines Index has finally broken out of a tight range that held for more than two months. The index is up 32% since May 15, but such was the extent of the sector’s drop that it’s still down 45% for the year.