Why Airline Shares Are Falling Today
Airline shares were under pressure on Monday as investors grappled with a fresh round of headlines concerning COVID-19 cases spiking. We're moving into the final stages of the summer vacation season with travel demand still anemic, and without much reason to believe it will get better any time soon.
Shares of American Airlines Group (NASDAQ: AAL) led the airlines lower, down 5% as of 3:30 p.m. EDT, while shares of United Airlines Holdings (NASDAQ: UAL), Delta Air Lines (NYSE: DAL), Southwest Airlines (NYSE: LUV), Alaska Air Group (NYSE: ALK), JetBlue Airways (NASDAQ: JBLU), and Spirit Airlines (NYSE: SAVE) were also among the hardest hit in what was a down day for the entire sector.
It's been a long, miserable summer for airlines. The pandemic has cut travel demand, leading to second-quarter year-over-year revenue declines of more than 80%.
Source Fool.com
