Why Airline Shares Are Falling Today
Airline shares lost altitude on Monday morning after a weekend news cycle heavy on concerns about a new wave of COVID-19 cases and closings. The airlines were hit hard in the spring when the U.S. and international partners went on lockdown, and the industry can ill afford to see a repeat.
Shares of Hawaiian Holdings (NASDAQ: HA) led the industry lower, down 10.1% at one point Monday morning, while Delta Air Lines (NYSE: DAL) fell as much as 9.5% and United Airlines Holdings (NASDAQ: UAL), Spirit Airlines (NYSE: SAVE), and JetBlue Airways (NASDAQ: JBLU) all fell more than 8%.
Other airlines fared only slightly better, with Alaska Air Group (NYSE: ALK), Southwest Airlines (NYSE: LUV), American Airlines Group (NASDAQ: AAL), and Allegiant Travel (NASDAQ: ALGT) all down more than 5%.
Source Fool.com
