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Why Airline Shares Are Falling Today

Lou Whiteman, The Motley Fool
·3-min read
Why Airline Shares Are Falling Today

Airline shares were under pressure again on Wednesday following comments from Federal Reserve Chairman Jerome Powell forecasting a long post-COVID-19 recovery that could "leave behind lasting damage" to the economy. The airlines need a quick economic rebound to avoid financial distress, and Powell's comments provided new reason for investors to worry about the viability of airline shares. As of 12:30 p.m. EDT, shares of Spirit Airlines (NYSE: SAVE) were down 14%, shares of United Airlines Holdings (NASDAQ: UAL) were off 9.8%, and shares of Delta Air Lines (NYSE: DAL), American Airlines Group (NASDAQ: AAL), and Southwest Airlines (NYSE: LUV) were all down more than 5% apiece.

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