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Why Airline Stocks Are Up Today

TheMotleyFool 
0 0 17.04.20
Why Airline Stocks Are Up Today
 

Markets jumped on Friday on news of progress treating COVID-19 and talk of soon reopening the economy, and airline stocks joined the surge higher. Airlines have been hit hard by the pandemic, and the industry needs a rapid recovery to avoid further downsizing.

Shares of American Airlines Group (NASDAQ: AAL), Hawaiian Holdings (NASDAQ: HA), and Spirit Airlines (NYSE: SAVE), three companies that are arguably the airlines most in need of a quick recovery, all were up 8% at the opening, while shares of Delta Air Lines (NYSE: DAL), United Airlines Holdings (NASDAQ: UAL), Southwest Airlines (NYSE: LUV), Alaska Air Group (NYSE: ALK), JetBlue Airways (NASDAQ: JBLU), and Allegiant Travel (NASDAQ: ALGT) all gained more than 5%.

The stocks gave back some of those gains by midday, but all were still easily outperforming the S&P 500.

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Source Fool.com

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