Why Airline Shares Are Falling Today
On Monday morning airline investors were greeted with both good news and bad. Wall Street was more focused on the bad, sending airline shares falling in Monday trading.
Leading the push downward were American Airlines Group (NASDAQ: AAL), United Airlines Holdings (NASDAQ: UAL), and Spirit Airlines (NYSE: SAVE), all down 5% on Monday morning.
The airlines have been among the hardest hit sectors during the pandemic, with revenue down 65% or more year over year and a multi-year recovery on the horizon. The stocks have recovered somewhat in recent weeks thanks to positive developments concerning a vaccine, but still remain off for the year.
Source Fool.com
