Why Airline Shares Are Up Today
Coming into earnings season, investors knew the airline industry had a terrible third quarter, but they were less certain about what management would say about what lies ahead. The mood, so far, has generally been upbeat. That and some company-specific news regarding a deal with labor is giving a lift to the sector on Thursday.
Shares of JetBlue Airways (NASDAQ: JBLU) and Spirit Airlines (NYSE: SAVE) each traded up 8% as of 2:15 EDT, while shares of Hawaiian Holdings (NASDAQ: HA) were up 7%, and Southwest Airlines (NYSE: LUV) and Delta Air Lines (NYSE: DAL) were each up more than 5% apiece.
It's been a tough year for airlines, with the COVID-19 pandemic wiping out demand for travel and pushing the entire industry into the red. Southwest on Thursday reported its worst loss in corporate history, but CEO Gary Kelly told investors the $1.2 billion loss was "significantly less" than feared several months ago.
Source Fool.com
