Airport Density — down 48% week over week (LAX, JFK, DTW, ATL)
Airlines are getting crushed by coronavirus. We reviewed Density’s airport visitation data over the last month.
Density’s anonymous people counting sensors are installed in nearly every major airport in the United States — We work with airport retailers, facilities teams, and a number of different airlines to anonymously count foot traffic.
We wanted to see how visitation data compared the headlines apparent impact of COVID-19 on the travel industry.
The drop in visitation week over week is staggering — At one space, inside a major airport, Density counted 16,482 visitors. This week, the system counted just 12,762. That’s a 32% drop in 7 days.
This is not just impacting airlines. When people don’t travel, it hits oil. This WSJ episode describes the impact of a decline in travel on the oil industry and it’s shock on the broader market.
All this amid a price war between Saudi and Russia (wsj).
48% average decline
Week over week foot traffic stats across different airports:
- JFK T2 down 66%, JFK T4 down 38%
- DTW down 57%
- LAX down 47%
- ATL down 35%
- LGA, MSP, DFW, Miami, Chicago are all down an average of 20% over the last two weeks.
Consumer fears are not unwarranted. This morning (cbs), three TSA Agents tested positive for COVID-19 at San Jose airport.
As much as we may complain about the middle seat, overbooked flights, and lost baggage, losing a major carrier would be a travesty for consumers. Unless COVID changes soon, it’s unlikely many in an industry with such thin margins can survive without federal assistance (cnn).
Amid the chaos and ghost towns, the airlines should be applauded for eliminating cancellation fees, improving safety aboard their aircraft, providing leave to their employees, and proactively communicating with their customers.
— The team at Density
“Arca,” an airline index fund, is down 36% month over month
