How long will the travel boom last?

REVENGE HOLIDAYS are in full swing and the travel industry is cashing in. After a rocky few years, the urge to splurge on airline tickets and hotels is set to bring in bumper earnings. Tour operators are inundated with bookings; hotel chains are raking in record profits. EasyJet has raised its earnings forecasts twice this year; IAG and Ryanair have both returned to profit for the first time since the start of the pandemic, and Singapore Airlines is handing out some of its record profits as bonuses worth eight months’ salary. With air fares rising faster than inflation, global airline bosses now expect $9.8bn in net income this year, more than double the amount initially forecast, according to the International Air Transport Association, an industry body.