Why Airline Stocks Fell This Week
Aviation is a global business, and the airlines tend to underperform when the world is in crisis. With that in mind, investors ran to the exits following Russia's invasion into Ukraine. Shares of the entire industry were in the red this week, with Delta Air Lines (NYSE: DAL), United Airlines Holdings (NASDAQ: UAL), American Airlines Group (NASDAQ: AAL), Alaska Air Group (NYSE: ALK), and JetBlue Airways (NASDAQ: JBLU) all down 9% or more for the week as of midday trading on Thursday, according to data provided by S&P Global Market Intelligence.
Airline investors have faced a difficult couple of years. The industry was hit hard by the pandemic, which caused travel demand to plummet, and attempts to get off the mat following the introduction of vaccines have repeatedly been thwarted by new variants. The war in Ukraine figures to add to the industry's woes.
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Source Fool.com
