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Why Shares of Sabre Are Down Today

TheMotleyFool

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Shares of Sabre (NASDAQ: SABR) traded down more than 17% on Thursday, after a global airline group dramatically raised its projections on how severely the COVID-19 coronavirus outbreak would impact the travel industry. Sabre's fortunes are closely tied to the airlines, and the company is likely to take a significant hit if ticket demand plunges.

Sabre, a onetime subsidiary of American Airlines Group, runs the back-end reservation systems for many airlines. The company warned back in late February that it expects the coronavirus to have a "material impact" on 2020 results, but as the virus has spread in the weeks since, that impact has likely grown more severe.

Image source: Getty Images.

Source Fool.com

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