Airlines were banking on summer travel to offset some of the steep losses from grounded flights in the second quarter. Although everyone knew that air travel would take the longest to recover from the pandemic, it became painfully evident for airlines and aircraft manufacturers at the end of the summer travel season that global air travel is not rebounding as fast as they had expected when national lockdowns were lifted. Global commercial air traffic slowed its recovery pace in August, sending a warning to the oil market that jet fuel demand would likely take at least three more years to reach pre-crisis levels—if it ever did. The resurgence of COVID-19 cases in Europe has led to overnight quarantine measures, which have had many holiday takers scrambling home, making many consumers wary of booking flights to some popular destinations. European air carriers and manufacturers are struggling with the slower-than-expected recovery […]