Why Airline Shares Are Losing Altitude Today
Investors are increasingly growing fearful that the economy is slowing, leading to yet another day where markets are in the red. Airline stocks are getting caught up in the sell-off, with a basket of carriers including Delta Air Lines (NYSE: DAL), United Airlines Holdings (NASDAQ: UAL), American Airlines Group (NASDAQ: AAL), and JetBlue Airways (NASDAQ: JBLU) all down about 5% in midday trading Tuesday.
2022 has been a year of changing expectations for airline investors. Coming into the year, investors were hopeful that strong demand would help the industry make up for losses sustained during the height of the pandemic, when few were traveling. But an eager consumer has been at least partially offset by higher fuel and labor costs.
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Source Fool.com
