Still, as more people get vaccinated and concerts, sporting events, and conferences return, CLEAR's business is poised to rebound. 'We expect that Covid-19 will continue to adversely impact our airport enrollments and business in 2021 and possibly beyond,' CLEAR said in its prospectus. domestic airline passengers plunged 60% in 2020 and total bookings dropped 11%, the company said.
In the first quarter of 2021, revenue dropped 17% from the same period a year earlier, which included two months of normal business before the pandemic. Along with gaining the ability to speed through airport lines, subscribers can also use the service at sports stadiums and entertainment venues. Launched in 2010, CLEAR's biometric security service is popular among frequent fliers, who purchase subscriptions for $179 a year.
