Why Airline Shares Are Soaring Today

Airline stocks surged higher on Friday following positive comments from American Airlines Group (NASDAQ: AAL) concerning traffic trends and cash bleed. The sector has been volatile of late, moving up and down based on sentiment about the prospects of a second wave of coronavirus infections and an economic recovery. But Friday was a "risk-on" day.

Shares of American opened up 20% and traded up 15% as of 10 a.m. EDT, while shares of Spirit Airlines (NYSE: SAVE), United Airlines Holdings (NASDAQ: UAL), and Delta Air Lines (NYSE: DAL) were all up 12% or more. Rounding out the sector, Southwest Airlines (NYSE: LUV), JetBlue Airways (NASDAQ: JBLU), Allegiant Travel (NASDAQ: ALGT), and Alaska Air Group (NYSE: ALK) were all up at least 10%, and Hawaiian Holdings (NASDAQ: HA) was up more than 8%.

Image source: Getty Images.

Continue reading

Source Fool.com