Why Airline Shares Are Falling Today

Airline investors remain skittish, worried that a second wave of the COVID-19 pandemic could wipe out the gains the sector has made since early April and send travel demand numbers tumbling again. The stocks sold off on Friday afternoon after Apple provided fresh reason for concern about the spread of the outbreak.

Shares of United Airlines Holdings (NASDAQ: UAL) were down 7.5% as of 2 p.m. EDT, while shares of Allegiant Travel (NASDAQ: ALGT), Spirit Airlines (NYSE: SAVE), and JetBlue Airways (NASDAQ: JBLU) were all down more than 5%.

The entire industry was under pressure, with shares of Delta Air Lines (NYSE: DAL), American Airlines Group (NASDAQ: AAL), Southwest Airlines (NYSE: LUV), Hawaiian Holdings (NASDAQ: HA), and Alaska Air Group (NYSE: ALK) all down 4%.