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Why Did Airline Stocks Skyrocket on Thursday?

Madeleine Johnson
·2-min read

Shares of top airline stocks soared on Thursday after American Airlines AAL said it is planning on increasing flights for July amid a rise in demand and coronavirus lockdowns being lifted.

AAL closed up 41.1% while United UAL, Southwest LUV, Delta DAL, Spirit SAVE & JetBlue JBLU were up 16.2%, 5.15%, 13.8%, 21.5% & 15.5%, respectively. The Jets ETF shot up in afternoon trading too, and has now gained 25% over the past week.

For July, American expects to fly about 55% of its domestic capacity that was flown in July 2019. This is up from 25% in June and 20% in May.

Looking forward, top aviation industry executives said it will take years for travel demand to return to pre-pandemic levels. But American’s capacity increase suggests that the worst of the coronavirus crisis may be over.

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Southwest Airlines Co. (LUV) : Free Stock Analysis Report
 
JetBlue Airways Corporation (JBLU) : Free Stock Analysis Report
 
Delta Air Lines, Inc. (DAL) : Free Stock Analysis Report
 
United Airlines Holdings Inc (UAL) : Free Stock Analysis Report
 
American Airlines Group Inc. (AAL) : Free Stock Analysis Report
 
Spirit Airlines, Inc. (SAVE) : Free Stock Analysis Report
 
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Zacks Investment Research