Why Airline Shares Fell in April
Airline stocks remained under pressure through much of April, as the full impact of the COVID-19 pandemic on travel and tourism became increasingly clear. The companies found themselves scrambling to cut costs and raise cash, and investors rushed for the emergency exits.
Shares of Southwest Airlines (NYSE: LUV) lost 12.2% for the month, according to data from S&P Global Market Intelligence, while shares of Delta Air Lines (NYSE: DAL) were down 9.2%, shares of United Airlines Holdings (NASDAQ: UAL) fell 6.2%, and American Airlines Group (NASDAQ: AAL) ended the month down 1.5%. By comparison, the S&P 500 was up 12.7% for the month.
The declines marked the second straight miserable month for the stocks, with the airlines falling between 22% and 48% in March.
Source Fool.com
