As oil prices soared well above $100 after Russia’s invasion of Ukraine, the airline industry was bracing for demand destruction as jet fuel prices climbed. Following two years of COVID-related restrictions, however, it seems that an insatiable desire to travel is countering the higher prices. With oil prices now falling back slightly and restrictions being lifted around the world, the future looks bright for airlines. The aviation industry is shaking off two years of COVID-related restrictions on travel as strong pent-up leisure and business travel demand makes airlines optimistic that they are on track to hit 2019 levels, despite soaring jet fuel costs amid the oil price spike. America’s domestic flight bookings are back to pre-pandemic levels, and U.S. airports screened last week the highest number of passengers since the Thanksgiving weekend of 2021, pointing to a strong recovery in airline travel after the Omicron wave subsided. Yet, just […]