Why Airline Stocks Are Flying Higher Today
On Wednesday, Wall Street was in panic mode due to the threat of the new COVID variant. But just 24 hours later, investors seem to be taking a much more sanguine approach to the threat posed by the omicron strain. Airline stocks are taking off as a result, with shares of Delta Air Lines (NYSE: DAL), American Airlines Group (NASDAQ: AAL), United Airlines Holdings (NASDAQ: UAL), Southwest Airlines (NYSE: LUV), Spirit Airlines (NYSE: SAVE), and JetBlue Airways (NASDAQ: JBLU) each up more than 5% at midday Thursday.
Airline stocks were hit hard by the initial COVID wave, with travel demand all but evaporating as nations closed their borders and would-be travelers were told to stay at home to be safe. That led to massive losses for the industry in 2020, but the stocks have battled back in 2021 as vaccines have been introduced and demand begins to return.
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Source Fool.com