Why Airline Stocks Are Flying High Today
A prominent analyst just issued an upgrade of Southwest Airlines (NYSE: LUV), and his rationale has the whole sector taking flight. Shares of Southwest, Delta Air Lines (NYSE: DAL), United Airlines Holdings (NASDAQ: UAL), and JetBlue Airways (NASDAQ: JBLU) were all up more than 5% on Friday morning on commentary that the post-pandemic aviation recovery is far from over.
It's been a turbulent few years for airline stocks, with shares initially hit hard by the pandemic on fears that the drop in travel demand would lead to a rash of airline bankruptcies. But in the U.S., the industry was able to fly through the storm better than expected, and as the vaccines began to roll out, the airlines were part of the so-called "reopening rally" earlier this year.
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Source Fool.com
