JETS - Airline stocks at highs with U.S. travel restrictions reportedly loosening mid-May

President Joe Biden is looking to ease travel restrictions around the middle of May, CNBC reports, citing two officials familiar with the matter.The move would relax current restrictions on cross-border travel between the U.S., and Canada and Mexico and inbound international travel from Europe, the U.K. and Brazil.The U.S. Global Jets ETF (JETS) +1.4% saw a quick move higher after the report came out.American Airlines (AAL) +2.7%, JetBlue (BLUE) +1.3%, United (UAL) +1% and Delta (DAL) +0.7% are all near their highs of the day, while SkyWest (SKYW) +2.8% leads the group.The timeline of mid-May would mean looser restrictions right after every U.S. citizen becomes eligible for a vaccine, according to the White House plan.“There is going to be a sea change in mid-May when vaccines are more widely available to everyone,” a senior administration official told CNBC.The airline sector has had a solid week, with a few names forecasting positive cash flow.

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Airline stocks at highs with U.S. travel restrictions reportedly loosening mid-May