Here's Why Airline Stocks Are Up Today
It's a "risk-on" day on Wall Street Friday, as after a few days of selling, investors are taking a glass-half-full view of where things stand with the COVID-19 pandemic. That's helping to give a lift to airline shares, one of the sectors most impacted by the pandemic.
Spirit Airlines (NYSE: SAVE) is leading the sector higher on Friday, up 9% as of noon EDT, while shares of American Airlines Group (NASDAQ: AAL), United Airlines Holdings (NASDAQ: UAL), and JetBlue Airways (NASDAQ: JBLU) are all up more than 5% apiece and shares of other carriers including Southwest Airlines (NYSE: LUV) and Delta Air Lines (NYSE: DAL) are not far behind.
Airline stocks have been volatile since the pandemic began. The stocks bottomed out in March on concerns that a severe drop off in travel demand would lead to a round of bankruptcies in the sector, but have recovered somewhat in the months since as travel has slowly returned.
Source Fool.com
