U.S. air traffic, of which 70 percent to 80 percent is domestic, is expected to rebound faster than European air traffic, which is largely international, according to S&P Global Ratings’ latest Infrastructure & Energy Outlook.
According to the outlook, even if widespread vaccination is achieved in most developed markets by the end of the third quarter of 2021, Europe is expected to lag countries like China and the United States. S&P Global says this is because opening up borders increases the risk of the spread of new variants. The ratings company estimates that it will likely take until at least 2022 before the vaccination is rolled out in many emerging-market countries.
S&P’s outlook provides a cross-sector look at COVID-19 recovery. To read the full report, click here.
