Why Airline Shares Are Falling Today

Airline shares were under pressure on Monday after a closely watched indicator of travel demand posted its first weekly decline since April. A spike in new coronavirus cases is crimping travel, and that's bad news for airlines.

Shares of Spirit Airlines (NYSE: SAVE) led the industry lower, down 5.5% at the close today, while shares of United Airlines Holdings (NASDAQ: UAL) were off 4.7% and shares of American Airlines Group (NASDAQ: AAL), Hawaiian Holdings (NASDAQ: HA), Southwest Airlines (NYSE: LUV), Delta Air Lines (NYSE: DAL), and JetBlue Airways (NASDAQ: JBLU) were all down about 3%.

Alaska Air Group (NYSE: ALK) and Allegiant Travel (NASDAQ: ALGT) also closed down around 3% each.

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Source Fool.com