ULCC - Why Airline Stocks Fell This Week
2023-03-16 14:26:19 ET
The remarkable post-pandemic momentum that airlines have enjoyed showed signs of cracks this week, and investors appear to be getting nervous.
Shares of Delta Air Lines (NYSE: DAL) , Alaska Air Group (NYSE: ALK) , American Airlines Group (NASDAQ: AAL) , Allegiant Travel (NASDAQ: ALGT) , Sun Country Airlines (NASDAQ: SNCY) , and Frontier Group (NASDAQ: ULCC) all joined United Airlines (NASDAQ: UAL) in falling more than 10% for the week, according to data provided by S&P Global Market Intelligence , after United issued a first-quarter earnings warning.
Airline investors have seen their share of ups and downs over the last few years. The industry was devastated by the pandemic, which decimated travel demand. But the industry has seen demand bounce back strong since the introduction of COVID-19 vaccines, helping the stocks to recover some of what was lost.
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Why Airline Stocks Fell This Week