This past week was another positive one for the charter market. Volume is up slightly week over week and is just below 2019 when comparing the data on a year-over-year basis. Companies that I talk to are busy, but there is general concern about the days ahead and that there are some signals that volume may get softer in the fall.

That said, it looks like there are some signs that New York City is starting open back up. If you look at the chart below you can see traffic increasing relative to last week and a prior year trend that had volume dropping over the same time period. The combined impact is a pretty noticeable positive trend. 



I thought it would be worth highlighting the difference between the East and West Coasts. While there is a slight week-over-week drop in volume for Van Nuys, the Los Angeles market has rebounded to a greater degree than we've seen in New York. When looking at KVNY in particular, the completion of a runway renovation project may also be helping the rebound. Note that month to date for Van Nuys, we're trending just 2.3% below 2020 compared with a 51.4 YOY decline for New York City.