Unloved during the pandemic with their business paralyzed almost overnight, airlines that cut back to survive the crisis are now blowing through profit forecasts and luring back investors.
Virgin Australia, so financially frail when Covid-19 hit in 2020 that it folded in weeks, has undergone a remarkable transformation under new owner Bain Capital and plans to relist in Sydney. Ryanair Holdings Plc returned to profit in the quarter through December and sees no end to its lucrative run. American Airlines Group Inc. has a simpler fleet and focuses on the most profitable flights.
