Why Airline Stocks Are Flying Higher Today
On Thursday morning, key players in the U.S. passenger airline industry warned that the Delta variant would put a damper on their third-quarter results. The market apparently was not surprised, and shares of carriers including American Airlines Group (NASDAQ: AAL), United Airlines Holdings (NASDAQ: UAL), Delta Air Lines (NYSE: DAL), Spirit Airlines (NYSE: SAVE), and JetBlue Airways (NASDAQ: JBLU) climbed by as much as 5%.
The airlines were hard hit in 2020 by the pandemic, but have recovered nicely in 2021 as vaccines reduced people's fears about travel and pent-up demand for vacations brought crowds back to airports this summer. We're still a long way from normal, but investors in the so-called "reopening trade" have pushed share prices higher this year.
Image source: Getty Images.
Source Fool.com
