Why Airline Shares Are Falling Today
Airline shares are under pressure on Monday, weighed down by pessimistic news concerning the pace of both vaccine deployment and a new round of stimulus. There's hope 2021 will be better than 2020, but investors are under no delusion that the turnaround will be quick.
Spirit Airlines (NYSE: SAVE) fell as much as 5.8% midday on Monday, while shares of United Airlines Holdings (NASDAQ: UAL), American Airlines Group (NASDAQ: AAL), Southwest Airlines (NYSE: LUV), and JetBlue Airways (NASDAQ: JBLU) each fell more than 4% apiece.
The airline industry was devastated by the pandemic, only surviving because airlines were able to raise billions in cash to offset significant losses as travel demand disappeared. There's hope for better days in 2021, but that is going to require widespread vaccinations and a healthy economy.
Source Fool.com
