Why Airline Stocks Flew Higher on Friday
On Friday, airline stocks finished one of their most volatile weeks since the beginning of the pandemic on a high note, with industry shares gaining elevation on a strong day for the broader markets. The industry right now is caught between short-term concerns and long-term hope, and that's causing a lot of turbulence in the markets.
Spirit Airlines (NYSE: SAVE) led the pack, up 8.9% for the day, with Hawaiian Holdings (NASDAQ: HA) up 8.7%, Delta Air Lines (NYSE: DAL) up 6.1%, and United Airlines Holdings (NASDAQ: UAL), Alaska Air Group (NYSE: ALK), and JetBlue Airways (NASDAQ: JBLU) all up more than 5%. Southwest Airlines (NYSE: LUV) and American Airlines Group (NASDAQ: AAL) were both up more than 4%.
Airline stocks were among the big winners following Pfizer's Monday announcement that it is making progress toward a coronavirus vaccine. The industry has been among the hardest hit by the pandemic, and a vaccine is a key to making any sort of a bull case for the airlines.
Source Fool.com
