What's going on?

Three of America�s biggest airlines reported better-than-expected earnings earlier this week, sure, but they still have plenty of baggage they can claim as their own.

What does this mean?

Southwest Airlines, American Airlines, and United Airlines all posted revenue that beat analysts� expectations � up 161%, 183%, and 211% respectively versus the same locked-down period last year. And those figures would�ve been higher too, if not for an August surge in the Delta variant that scared away plenty of would-be jetsetters. But Southwest, American, and United might not want to recline their seats and enjoy the ride just yet: ever-increasing fuel costs are still kicking them in the back, while a shortage of airline workers means there are only so many flights they can actually offer.

Why should I care?

For markets: The world�s a big place.
The air travel industry continues to be dogged by the impact of the pandemic, with an ETF that tracks everything from airports to aircraft manufacturers lagging the US stock market by 20% in the last six months (tweet this). But United Airlines is keeping its cool: the airline specializes in international flights, which bring in more profit than the domestic flights its rivals rely on. And since the firm�s expecting that profitability gap to continue to grow, it�s doubling down: United Airlines said earlier in the week that it�s aiming to offer 10% more international flights next year.

The bigger picture: Work for us. Please.
Those labor shortages don�t look like they�re going away anytime soon: data out on Thursday showed that the number of Americans claiming unemployment benefits fell to the lowest level since before the pandemic last week, even as job openings remain at all-time highs. That suggests there are plenty of jobs to go around, there just aren�t enough jobseekers to fill them.