Why Airline Stocks Fell This Morning
Russia's military move into Ukraine hit Wall Street on Thursday morning, and airlines were among the hardest hit sectors. Shares of United Airlines Holdings (NASDAQ: UAL), American Airlines Group (NASDAQ: AAL), and Spirit Airlines (NYSE: SAVE) all fell as much as 7% at the open, and shares of Delta Air Lines (NYSE: DAL), Southwest Airlines (NYSE: LUV), and JetBlue Airways (NASDAQ: JBLU) all fell 5% or more.
It's been a tough few years for the airline sector, as the pandemic caused travel demand to evaporate and left airlines scrambling to raise cash and ride out the storm. We've seen a gradual uptick in demand over the past year, but the industry remains in a fragile state.
Image source: Getty Images.
Source Fool.com
