ULCC - Airline stocks take off after bright outlook from Ryanair reduced COVID restrictions

Airline stocks are on the rise after Ryanair (RYAAY +7.5%) boosted its five-year passenger forecast, citing pent-up travel demand in Europe and abroad. News that Britain may loosen its international travel restrictions, no longer requiring quarantines or negative tests after travel to the majority of countries, also contributed to the gain. The Netherlands will abolish quarantine requirements for vaccinated travelers beginning Sept 22. Earlier, the FAA extended its waiver of minimum slot usage requirements at several major airports until March 22, giving airlines the option to fly fewer flights from those locations if needed. The S&P 1500 Composite Airline Index is up over 2.5%. The biggest gainers include American Airlines (AAL +3.7%), Delta Airlines (DAL +2.1%), Southwest Airlines (LUV +1.8%), United Airlines (UAL +2.8%), JetBlue (JBLU +2.6%), Hawaiian Holdings (HA +1.8%), Alaska Air Group (ALK +1.8%), Allegiant Travel (ALGT +1.6%), Spirit Airlines (SAVE +1.3%), Mesa Airlines (MESA +2.5%), SkyWest (SKYW +2.4%),

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Airline stocks take off after bright outlook from Ryanair, reduced COVID restrictions