A bit more good news for the airline industry: American Airlines says it expects most of its aircraft to be in active use this spring, as more travelers book flights and vaccine eligibility expands. The Fort Worth-based carrier estimates its capacity of total available seat miles will be down 40% to 45% compared with the first quarter of 2019. American says its seven-day moving average of net bookings is 90% of its 2019 average.
Despite news the giant container ship blocking the Suez canal has been refloated and moved off the canal's bank, the damage to world trade has been done. Fitch Ratings says the disruption of global shipping could cause a large loss event for the reinsurance industry. The agency says "prices for marine reinsurance will rise further as a consequence of the blockage.”
