Business: Signs air travel recovering

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While the International Air Transport Association estimates that air travel won’t return to pre-pandemic levels until 2024, some experts are seeing indicators that air travel may make a more rapid recovery. There is hope that the airlines will see pent-up demand translate to booking by late summer, when more Americans are expected to have access to covid vaccines.  Some forecast a 70-80% return in leisure travel this summer.

Strong demand in Asia and a shortage of ships have sparked a scramble for liquefied natural gas carriers. Charter prices for vessels moving LNG from the Gulf Coast to Europe have rocketed to $322,500 a day from about $190,000 at the end of 2020.  That comes as the benchmark price for LNG has soared 42% in January, and is up 10 times from last spring.  . Traders are facing tight capacity exacerbated by delays at a Panama Canal backed up with container ships.