Why Shares of American Airlines Rose Today
Thursday was a good day for airline stocks, and American Airlines Group (NASDAQ: AAL) led the sector higher. American closed up 3.8%, and traded up as much as 5.8% mid-day, on a loosening of international travel restrictions and continued hope airlines might be included in a second round of stimulus coming out of Washington.
It's been a tough year for the airline industry, with COVID-19 squelching travel demand and causing companies to scramble to cut costs. The airlines saw revenue in the second quarter fall by 80% or more year over year, in part because the U.S. and other nations limited international travel to try to stem the spread of the virus.
COVID-19 is still a problem, but some of those regulations are beginning to be rolled back. The U.S. State Department on Thursday lifted its Global Level 4 Health Advisory warning U.S. citizens to avoid all international travel.
Source Fool.com
