Why AerCap Stock Is in a Freefall Today
A new COVID-19 variant has airline stocks under pressure today, and companies that rely on airlines for revenue are also taking a hit. Shares of aircraft lessor AerCap Holdings (NYSE: AER) traded down as much as 12% on Friday as investors brace for another round of bad news for the travel sector.
Airlines are among the sectors hit hardest by the pandemic. Global travel ground to a halt as the virus spread, causing airlines to cut costs and scale back their pre-pandemic growth plans. AerCap, which buys planes directly from manufacturers like Boeing (NYSE: BA) and Airbus (OTC: EADSY) and leases them to carriers, took it on the chin as investors feared airlines would be unable to pay their bills.
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Source Fool.com
