Why Airline Stocks Are Higher Today
A number of airline executives are making the rounds at an investment conference this week, and their tone is optimistic. That, coupled with a new milestone in the return of air traffic following the pandemic, has airline stocks gaining altitude on Tuesday.
Shares of United Airlines Holdings (NASDAQ: UAL) and American Airlines Group (NASDAQ: AAL) were each up more than 5%, while Delta Air Lines (NYSE: DAL) and JetBlue Airways (NASDAQ: JBLU) were up more than 4%. The enthusiasm even extended to Brazil-based, but New York-traded, Azul (NYSE: AZUL), which was up as much as 5.9% as of this writing.
Airline stocks endured a miserable 2020 as the pandemic quelched demand for air travel, but the sector has mostly been on the rise since the initial vaccine rollout. Passengers have indeed been returning. On Sunday, the number of U.S. air passengers flying topped 90% of the 2019 figure for the same day, the first time we've hit that mark since the pandemic began.
Source Fool.com
