ALK - U.S. airlines cut Q3 revenue and capacity expectations due to lighter demand

Airline stocks are on watch after a wave of guidance cuts arrived in this morning. Southwest Airlines (NYSE:LUV), United Airlines (NASDAQ:UAL), JetBlue (NASDAQ:JBLU), American Airlines (NASDAQ:AAL) and Delta Air Lines (NYSE:DAL) have all guided for lower Q3 revenue and capacity due to softer booking trends than anticipated when Q3 guidance was first set. Many of the carriers cited the high rate of COVID cases in parts of the U.S. as a factor. The share price reaction is somewhat moderate with data sources already tipping off the softer bookings trends for the last few weeks. Premarket: American Airlines (AAL) -0.52%, Delta Airlines (DAL) +0.23%, Southwest Airlines (LUV) -0.79%, United Airlines (UAL) -0.92%, JetBlue (JBLU) -0.14%, Hawaiian Holdings (NASDAQ:HA) +0.20%, Alaska Air Group (NYSE:ALK) -0.69%, Allegiant Travel (NASDAQ:ALGT) no action, Spirit Airlines (NYSE:SAVE) -0.49%, Mesa Airlines (NASDAQ:MESA) -0.26%, SkyWest (NASDAQ:SKYW) -0.15%, Sun Country Airlines (NASDAQ:SNCY) no action, Frontier Group (NASDAQ:ULCC) +0.13%. Read

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U.S. airlines cut Q3 revenue and capacity expectations due to lighter demand