Why Southwest Airlines Shares Were Up Today
Shares of Southwest Airlines (NYSE: LUV) were up 5.2% on Tuesday afternoon after the carrier reported modest improvement in travel demand. The airline sector has been hit hard by the COVID-19 pandemic, but we're beginning to see initial signs indicating the worst might be behind us.
Southwest shares have lost nearly half of their value year to date as the airline and its peers have dramatically cut flights and grounded planes in response to a pandemic-induced travel slump. Southwest, which famously was able to avoid layoffs after the attacks of Sept. 11, has warned it might be forced to cut jobs this fall if traffic doesn't return.
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Source Fool.com
