Why Airline Shares Are Falling Today
Airline stocks sputtered on Monday after United Airlines Holdings (NASDAQ: UAL) released preliminary first-quarter results that came in well below expectations. Investors knew first- and second-quarter numbers would be under pressure, but United's actual numbers paint a picture of how challenging operations are for the nation's airlines.
Shares of United fell 8.2% at the open, while shares of American Airlines Group (NASDAQ: AAL) fell 7.3% and shares of Delta Air Lines (NYSE: DAL), Southwest Airlines (NYSE: LUV), Spirit Airlines (NYSE: SAVE), JetBlue Airways (NASDAQ: JBLU), Alaska Air Group (NYSE: ALK), Hawaiian Holdings (NASDAQ: HA), and Allegiant Travel Co. (NASDAQ: ALGT) all fell more than 5%.
The stocks gave back some of those losses as the trading day continued, but it looks like another tough trading session for airline investors.
Source Fool.com
