Why Airline Shares Are Flying Higher Today

Airline shares got a lift on Monday after a prominent Wall Street analyst declared an initial rebound in travel demand is "real." The stocks have been rallying in recent days on hopes that the worst of the COVID-19 pandemic-related slowdown is over, but there remain a lot of skeptics about the rally.

Shares of Alaska Air Group (NYSE: ALK) and United Airlines Holdings (NASDAQ: UAL) were each up 10% as of 10:30 a.m. EDT, while shares of American Airlines Group (NASDAQ: AAL), Delta Air Lines (NYSE: DAL), Spirit Airlines (NYSE: SAVE), Hawaiian Holdings (NASDAQ: HA), JetBlue Airways (NASDAQ: JBLU), and Allegiant Travel (NASDAQ: ALGT) were all up more than 5%.

Southwest Airlines (NYSE: LUV) was the relative laggard of the group, but its 3.4% gain was still well above the broader market.

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Source Fool.com