Why Airline Shares Are Falling Today
Airline shares were under pressure Friday following United Airlines Holdings' (NASDAQ: UAL) first-quarter earnings release, providing fresh evidence of the damage done to the industry by the COVID-19 pandemic.
Shares of United and American Airlines Group (NASDAQ: AAL) led the sector lower on Friday, each down 7% apiece. Shares of other carriers, including Delta Air Lines (NYSE: DAL), Southwest Airlines (NYSE: LUV), Alaska Air Group (NYSE: ALK), JetBlue Airways (NASDAQ: JBLU), Hawaiian Holdings (NASDAQ: HA), Spirit Airlines (NYSE: SAVE), and Allegiant Travel (NASDAQ: ALGT) were all also down more than 5%.
The stocks clawed back some of their initial declines as the morning continued, but it appears it is going to be another difficult day for airline stocks.
Source Fool.com
