Why Airline Stocks Are Down Today
United Airlines Holdings (NASDAQ: UAL) provided a tepid outlook for the next few months, putting the entire sector under pressure. Shares of United traded down by as much as 10% on Tuesday, and American Airlines Group (NASDAQ: AAL), Delta Air Lines (NYSE: DAL), JetBlue Airways (NASDAQ: JBLU), and Spirit Airlines (NYSE: SAVE) all fell, as well.
After a miserable 2020, the airlines, which were weighed down by the pandemic, are on a path toward recovery. But after digesting United's earnings report, investors got a reminder of how long that recovery will take. United lost $7.50 per share in the quarter, which was worse than anticipated, on revenue that was down 59.6% from the prior year.
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Source Fool.com
