Ditching the amber watchlist is the right move, but there’s a long way to go for the travel industry

The industry is hoping more green list destinations will encourage holidaymakers but the pandemic hasn’t gone away and summer breaks overseas are no longer the carefree affairs they once were. The travel industry is not out of the woods yet, writes James Moore

The industry is hoping that Britain’s ‘vaccine wall’ will help it to fly again. How well-founded is its optimism?

The travel industry may have suffered more through the pandemic than even bombed-out sectors such as hospitality or retail. IATA, the international airline trade body, put its part of the industry’s losses at a staggering $126bn (£91bn) last year. Tour operators, hoteliers and others will have similarly sad stories to tell.

Of late, however, there has been the suggestion of optimism in the air. It can be seen in some of the statements to the stock exchange issued by the sector’s quoted contingent, in the press releases put out by PR people, in the private musings of executives.

How much of this is justified is open to question. IATA’s estimate for 2021 is that its members’ collective losses will come in at $47bn, which, yes, is a marked improvement over the previous year, but it still represents an enormous deficit. Most airlines’ results will be spattered with red ink for the second year in a row. And they won’t be alone.