Bankinter | Spain recorded almost 6,000 flights in a week in which operations resumed, up 66.6% compared to the previous week (3,523 landings and takeoffs). Air traffic has shot up in destinations like Palma with a 177.6% rise, while others like Madrid have seen an increase of 32% in operations. The Balearic Islands has been the destination chosen by Lufthansa and several tour operators to start the tourist de-escalation. Despite the upturn, however, traffic is still 86.6% lower than in the same week last year.
The tourism sector is beginning to recover little by little, after more than 3 months of total shutdown. Air traffic should continue to improve as airlines and tour operators are resuming their activity, although from levels “close to zero” (down 98.9% yr/yr in May). We remain cautious on the sector. Uncertainty is still very high and the tourism recovery will be very progressive. We do not expect it to normalize until there is a vaccine, which could take 6-12 months in a best case scenario.
