Why Airline Stocks Gained Altitude This Week
The nation's smaller, discount airlines made most of the news this week, but the industry giants went along for the ride. Shares of Delta Air Lines (NYSE: DAL), United Airlines Holdings (NASDAQ: UAL), and American Airlines Group (NASDAQ: AAL) all traded up more than 11% for the week as of Friday morning, according to data provided by S&P Global Market Intelligence, as a wave of optimism about 2022 swept through the sector.
This week in airlines started with Monday's blockbuster announcement that Frontier Group Holdings (NASDAQ: ULCC) and Spirit Airlines (NYSE: SAVE) planned to combine in a deal valued at more than $6.6 billion. The deal would create the nation's fifth largest carrier, and long-term could mean a more formidable rival to the big three.
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Source Fool.com
