Airline stocks set for record weekly gains as passengers start returning

Travel

A passenger aircraft of the airline American Airlines is in a climb shortly after takeoff at Frankfurt Airport.

Silas Stein | picture alliance via Getty Images

Airline stocks are headed for their biggest weekly gains ever on hopes of a rebound in the U.S. economy and air travel demand.

The NYSE Arca Airline Index, which tracks 16 airlines, mostly in the U.S., is up nearly 50% this week — its biggest weekly percentage gain ever.

Airline stocks soared in morning trading. American Airlines jumped 23%, United Airlines was trading more than 15% higher and Delta Air Lines was up 8%.

Airlines this week detailed planes for increased summer flying to cater to passengers traveling again as the peak vacation season gets underway and states start lifting shelter-in-place and other measures aimed at curbing the spread of Covid-19.

Articles You May Like

Xiaomi 14 Ultra With Snapdragon 8 Gen 3 SoC, 50-Megapixel Quad Rear Camera Launched: Price, Specifications
Airtel, Reliance Jio Likely to Start Charging for 5G Ending Unlimited 5G Data Offers
I was in awe of her and wanted to impress her
Linda Hamilton Says Being Cast in ‘Stranger Things’ Ruined It for Her – The Hollywood Reporter
Android 15 Could Offer a Boost to Two-Factor Authentication Security to Keep User Data Safe: Report