Why Airline Shares Are Higher Today
Airlines have taken investors on a turbulent ride this week, with the shares up on Monday but then down on Tuesday as confidence grew, then faded, over the prospects for a new round of stimulus for the industry.
On Wednesday a number of airlines received cash promised to them as part of the original CARES Act stimulus plan, and lawmakers again expressed hope that a new deal could be complete in the days to come.
That returned airline stocks to the green, with shares of American Airlines Group (NASDAQ: AAL) up as much as 5.4% on Wednesday morning, and shares of United Airlines Holdings (NASDAQ: UAL) and Spirit Airlines (NYSE: SAVE) each topping out up more than 5% as well.
Source Fool.com
