Why Boeing and the Airlines Are Flying Higher Today
Stocks were solidly higher on Friday, thanks to new data that suggests the economy remains strong, as well as talk of a potential China post-COVID reopening. Both pieces of news are positives for the airlines and their major suppliers, and the sector is outperforming the market as a result.
Shares of Boeing (NYSE: BA) traded up as much as 3% on Friday, while shares of United Airlines Holdings (NASDAQ: UAL) and American Airlines Group (NASDAQ: AAL) were up as much as 5% apiece.
After a difficult few years, the airlines are on the upswing, but questions remain about how long the good times can last. Demand for air travel has come soaring back post-pandemic, putting the airlines in a position to begin rebuilding their balance sheets and thinking ahead to new aircraft orders.
Source Fool.com
