Why Airline Shares Are Soaring Today
We've been saying for weeks now that airlines, thanks in part to a government cash infusion, are in no immediate danger of liquidity issues, but the industry needs traffic to normalize in the months to come to avoid dire consequences. Monday brought promising news on the vaccine front, and that's helping to push airline stocks, and the broader market, higher.
Shares of Spirit Airlines (NYSE: SAVE) are up 21% as of noon Monday, while shares of United Airlines Holdings (NASDAQ: UAL) are up 17%, and shares of Allegiant Travel (NASDAQ: ALGT), Delta Air Lines (NYSE: DAL), Southwest Airlines (NYSE: LUV), and Hawaiian Holdings (NASDAQ: HA) are up more than 11% apiece.
Other airline stocks are also beating the market, with Alaska Air Group (NYSE: ALK) up 10%, American Airlines Group (NASDAQ: AAL) up 8%, and JetBlue Airways (NASDAQ: JBLU) up more than 6%.
Source Fool.com
