Why Airline Shares Are Down Today

The airlines ran into a patch of turbulence on Thursday, zapping some of the momentum the sector has enjoyed in recent weeks. It's too soon to declare the "reopening trade" over, but it wasn't a good day to be investing based on expectations that COVID-19 would soon be in the rearview mirror.

Leading the way downward were shares of American Airlines Group (NASDAQ: AAL), United Airlines Holdings (NASDAQ: UAL), JetBlue Airways (NASDAQ: JBLU), and Spirit Airlines (NYSE: SAVE), with each stock down more than 5% for the day.

For all the problems airlines had in 2020, the companies have been flying high so far this year. All four of these stocks are up at least 20% year to date, even with Thursday's sell-off, and Spirit is up nearly 40%.

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Source Fool.com