Payden & Rygel: Flight frenzy, global number of daily flights
In a light data week, the U.S. S&P 500 index notched another new record high. Upbeat earning expectations helped fuel the move. For example, Delta Air Lines revised its earnings forecast for this year, suggesting that travel is coming back as 'people are starting to understand with clarity where things are headed and that allows them to start making plans', making the current environment 'incredibly stable'.
Not long ago, amid trade-related angst, investors worried that global economic growth might suffer in 2025, with air travel being the first to weaken as consumers save rather than splurge. However, data from Flightrader24, the most comprehensive global flight tracker, indicates that the total number of flights per day, encompassing commercial, cargo, business, military, government, and ambulance flights, as well as drones, has continued to rise to record highs as of July. The toll of tariff-related uncertainty may weigh on the labor market and consumer income in the second half of the year, but for now the consumer appears to be flying high.
