Why Aircraft Leasing Stocks Are Gaining Altitude Today

Airline stocks are flying high on Monday thanks to an encouraging development in the race to find a COVID-19 vaccine, and they are taking a lot of companies that rely on airlines for revenue along for the ride.

Shares of AerCap Holdings (NYSE: AER) are up 30% on the day as of 12:30 p.m. EST, while shares of Fly Leasing (NYSE: FLY) are up 24% and Air Lease (NYSE: AL) are up 19%.

AerCap, Fly Leasing, and Air Lease are all in the business of buying airplanes and leasing them to airline customers. It's a good business when airlines are growing and planes are in high-demand, but a tough one in the current environment.

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Source Fool.com