Why Airline Shares Are Higher Today
Airline shares got a lift on Thursday after U.S. health officials approved a 15-minute COVID-19 test from Abbott Laboratories. Airlines have suffered due to the pandemic's impact on travel demand, and in recent weeks any potentially positive development in the fight against the virus has caused shares to rally.
Shares of American Airlines Group (NASDAQ: AAL) led the sector higher on Thursday, peaking 11.5% higher, while shares of United Airlines Holdings (NASDAQ: UAL) were up as high as 10.9%. Spirit Airlines (NYSE: SAVE) and JetBlue Airways (NASDAQ: JBLU) were trading up 8% apiece, and Delta Air Lines (NYSE: DAL) and Southwest Airlines (NYSE: LUV) were both up 7%.
The entire sector gave back some of those gains as the morning went on, but all of these airlines were up between 4% and 6% as of 11:30 a.m. EDT.
Source Fool.com
