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Why Shares of Triumph Group Are Soaring Today

TheMotleyFool

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Why Shares of Triumph Group Are Soaring TodayPhoto, wide shot, wide-angle lens, Diversified industrial company, sunset photo at golden hour, photo by Ansel Adams: https://img.midjourneyapi.xyz/temp/3bc2ecaa-ddda-4d9f-865e-4df253bbd22f.png

Shares of Triumph Group (NYSE: TGI) climbed more than 24% on Wednesday after the aerospace manufacturer announced a number of actions designed to help it weather the COVID-19 pandemic slowdown in plane sales.

Triumph flew into the COVID-19 crisis in a difficult position, in the middle of a multi-year transformation designed to reverse years of inconsistent results. With airlines retrenching due to a pandemic-induced falloff in travel demand, aerospace suppliers are bracing for a prolonged downturn in new plane and spare part sales.

A Gulfstream wing assembly. Image source: Triumph Group.

Source Fool.com

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