SAVE - Why JetBlue Spirit and Frontier All Lost Altitude This Week
2023-08-03 14:24:28 ET
It has been a surprisingly shaky earnings season for airlines, which have seen strong summer demand but also have questions about the quarters to come. Investors have tended to see the glass as half-empty.
Shares of JetBlue Airways (NASDAQ: JBLU) , Frontier Group (NASDAQ: ULCC) , and Spirit Airlines (NYSE: SAVE) fell as much as 15.7%, 13.6%, and 12.5%, respectively, for the week as of Thursday afternoon, according to data provided by S&P Global Market Intelligence .
Airline stocks have taken investors on a wild ride over the last three years. The pandemic wiped out demand for travel and raised questions about whether some airlines would survive, but a post-vaccine surge in demand has led to full planes and improved margins.
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Why JetBlue, Spirit, and Frontier All Lost Altitude This Week