Why Airline Stocks Gained Altitude This Morning
American Airlines Group (NASDAQ: AAL) expects third-quarter revenue to come in ahead of guidance, a fresh sign that demand for travel is holding up well despite tough economic conditions.
The news provides a lift to American and rivals Delta Air Lines (NYSE: DAL) and United Airlines Holdings (NASDAQ: UAL), sending shares of all three airlines up as much as 5% before new worries about a slowdown ahead ate into those gains.
Airline investors had a miserable 2020 due to the pandemic, and these stocks continued to be volatile throughout 2021 and into 2022. But investors had high hopes that a rebound in demand would help the airlines to normalize operations and regain altitude as the year went on.
Source Fool.com
