Why Shares of Sabre Are Taking Off Today
Airline shares have soared higher in recent days, and companies that rely on aviation for revenue are going along for the ride. Shares of Sabre (NASDAQ: SABR) traded up 11% on Tuesday morning on growing investor optimism that travel is slowly rebounding.
Airlines have seen travel demand evaporate due to the pandemic, and that has had a trickle-down impact on companies like Sabre. Sabre, a former American Airlines Group subsidiary that runs airline ticketing and reservation systems, last week reported an adjusted second-quarter loss of $1.30 per share on revenue of $83 million, far below the $0.84 per share loss on $162 million in sales analysts had expected.
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Source Fool.com
