The Transportation Security Administration (TSA) has reported record travel numbers on July 7, screening more than 3 million passengers after the extended July 4th weekend. Although travel has bounced back significantly since the COVID-19 pandemic, airlines haven't seen that translate into record profits.

Citi managing director Steve Trent joins Market Domination to give insight into the airline industry and why record travel numbers may not have equated to record profits for airlines.

Trent outlines what has happened with ticket prices and capacity on planes, which have affected the industry:

"So a little bit of A Tale of Two Cities, so to speak, on that one. So [the] domestic market, relative to last year, you do have some pockets where, you ostensibly have some overcapacity. Florida, for example, which for a long time was the only place people seemed to be going nowadays... you have plenty of capacity there, you have air traffic control limitations, and then [the] lower-end consumer is still under some pressure, interest rates haven't come down yet. But when we think about international long haul that largely still looks very good with the noted caveat."

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This post was written by Nicholas Jacobino