Airlines Can’t Shrink Fast Enough To Keep Up With The Unprecedented Collapse In Global Travel Demand
It's all but axiomatic that no business can stay in business if its number of customers and, therefore, its revenues, fall by a whopping 87% on a year-over-year basis. Yet data from the Transportation Security Administration show that is exactly the situation in which U.S. airlines now find themselves.
On Tuesday only 279,018 people - not all of whom were even air travelers - were cleared through TSA security checkpoints at U.S. airports. On the same day last year, more than 2.15 million people passed through those very same checkpoints. That's an 87.1% drop. And it represents the lowest TSA checkpoint throughput since the TSA began reporting its daily throughput totals.