US Airport and Toll Road Traffic Slowly Returning to Normal

Traffic levels are still suppressed at U.S. airports, but the rate of decline is levelling off, according to the latest U.S. Traffic Monitor from Fitch Ratings. While traffic for toll roads was quicker to bounce back, overall traffic still remains below pre-pandemic levels, and toll roads’ collective outperformance relative to Fitch’s projections is beginning to stabilize.

Airport traffic remains significantly below pre-pandemic levels, with Fitch-projected airport traffic levels of 65% lower year-over-year in 4Q’20, indicating a slight improvement from the 75% decline projected for 3Q’20.