Why Airline Shares Are Falling Today
It's been a risk-off week on Wall Street, and airline shares have been caught up in the downdraft. The industry has been hit hard by the COVID-19 pandemic, and without a lot of good news about the economy or the pandemic, investors are having a hard time getting excited about airline stocks.
Shares of Spirit Airlines (NYSE: SAVE) led the decline on Thursday morning, down as much as 6.3%, while shares of American Airlines Group (NASDAQ: AAL), United Airlines Holdings (NASDAQ: UAL), and Delta Air Lines (NYSE: DAL) were each down more than 5% and Southwest Airlines (NYSE: LUV) was off by 4.6%.
The stocks all had recovered somewhat by midday, rising with the broader markets, but although the S&P 500 is in the green as of noon EDT the airlines are all down between 2% and 4%.
Source Fool.com
