Why Airline Shares Are Up Today

Has sentiment finally turned in favor of airline stocks? The sector enjoyed another day in the green on Friday, buoyed by improving optimism as states begin to reopen. And carriers got through earnings reporting season without any major disasters.

Shares of Allegiant Travel (NASDAQ: ALGT), United Airlines Holdings (NASDAQ: UAL) and JetBlue Airways (NASDAQ: JBLU) closed up more than 11%, with Hawaiian Holdings (NASDAQ: HA) up more than 9%. Shares of Southwest Airlines (NYSE: LUV), American Airlines Group (NASDAQ: AAL), Alaska Air Group (NYSE: ALK), and Delta Air Lines (NYSE: DAL) were each up about 5% or more.

Airlines have been hit hard by the COVID-19 pandemic, with all of the stocks mentioned above down between 50% and 71% year to date. The pandemic has brought global travel demand to a halt, leaving the companies scrambling to survive.

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Source Fool.com