Credit rating agency Moody’s Investor Service on Tuesday changed the outlook for the global airline industry to positive from negative stating that vaccinations will drive strong growth in travel demand over the next 12-18 months.
“We expect this positive demand trend to run for many quarters, into 2023. Increasing coronavirus vaccinations around the globe will allow governments to lower barriers to entry for visitors and reentry for residents returning home,” Moody’s Investor Service said in a report.
“Leisure traffic will lead the charge to the boarding gates, while corporate trips and international long-haul will follow, initially at slower paces. The restoration of the ability to travel will relieve the tremendous pent-up demand to fly to visit friends and relatives and for vacations,” it added.
