The Year Ahead
European Airlines Brace for Turbulence as Summer Hopes Fade
Carriers, which depend on midyear travel for most of their business, need a faster vaccine rollout to rebound.
A Lufthansa Airbus A321neo aircraft flies over beachgoers on its descent approach towards Cyprus’ Larnaca International Airport.
Photographer: Etienne Torbey/Getty ImagesThis article is for subscribers only.
Airlines have for months been looking toward a rush of Covid vaccine introductions in early 2021 to rescue their battered industry. But European carriers counting on a bumper summer season to restore revenue and rebuild balance sheets are becoming fearful that a recovery will arrive too late for the vital travel period.
While vaccine rollouts were stoking forecasts for a 90% rebound in Europe’s leisure market just a month ago, fast-spreading new viral strains are prompting people to shelve vacation plans at what should be the busiest time for bookings.