Why the holidays are looking up for Sydney Airport (ASX:SYD) shares

The Sydney Airport Holdings Pty Ltd (ASX: SYD) share price action this year provides a concise snapshot of the damage inflicted by the global pandemic.

After gaining more than 38% in 2019, things took a sharp turn for the worse in February this year. That’s when investors began to cotton on to the fact that the kind of lockdowns China had instituted to control the coronavirus in Wuhan could spread across the globe.

As indeed, they did.

With the prospect of international and domestic air travel grinding to a halt, the Sydney Airport share price crashed more than 45% from 4 January through to 19 March. Since that low, shares have rebounded by 48%. Still, Sydney Airport shares remain down nearly 20% year to date.

But with domestic…