Airport Runway Reopens, Airlines Face Weak Air Travel Demand
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Newark Liberty International Airport's major runway reopened ahead of schedule. Despite a summer airfare sale dropping prices to 2021 levels, the outlook for the rest of the year remains uncertain. Airlines are grappling with excess capacity and weaker-than-expected demand, prompting flight cuts. The TSA expects over 18.5 million travelers between July 1st and July 8th, although demand is below initial projections. Economic resilience contrasts with sluggish air travel demand, leading to cautious airline forecasts.
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