Why Shares of Airlines Are Climbing Today
Investors in airline stocks continue to waver on the industry following the passage of a $2 trillion economic stimulus bill that includes $50 billion for passenger carriers. The stocks rallied last week but were down on Monday, only to bounce back Tuesday as more details trickle out about how the airlines are going to cope with the COVID-19 coronavirus pandemic-induced travel slowdown.
Shares of United Airlines Holdings (NASDAQ: UAL) led the way on Tuesday, up 10% at noon, with shares of Delta Air Lines (NYSE: DAL), American Airlines Group (NASDAQ: AAL), and Southwest Airlines (NYSE: LUV) all up more than 5%.
The airline sector has been among the hardest hit by the pandemic, with travel demand all but evaporating overnight. A Transportation Security Administration (TSA) spokesperson said Tuesday that on Monday, the agency screened 154,080 passengers nationwide, the lowest single day in 10 years. By comparison, on March 30, 2019, the TSA screened 2,360,053 people.
Source Fool.com
