Why Airline Shares Soared Higher in November
Airline shares took flight in November, buoyed by news of progress in the race to develop a COVID-19 vaccine.
Delta Air Lines (NYSE: DAL), American Airlines Group (NASDAQ: AAL), and Southwest Airlines (NYSE: LUV) led the charge higher, up 31.4%, 25.3%, and 17.2% for the month, respectively, according to data provided by S&P Global Market Intelligence.
The airline business has been hit harder than most by the pandemic, with travel demand evaporating last March and only slowly recovering in the months since. The industry expects year-over-year travel in the fourth quarter to be down 65% or more, and every U.S. airline is currently bleeding cash.
Source Fool.com
