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Delta Air Lines, Inc. (DAL) - free report >>
United Airlines Holdings Inc (UAL) - free report >>
Southwest Airlines Co. (LUV) - free report >>
Why Did Airline Stocks Skyrocket on Thursday?
Shares of top airline stocks soared on Thursday after American Airlines (AAL - Free Report) 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 - Free Report) , Southwest (LUV - Free Report) , Delta (DAL - Free Report) , Spirit & JetBlue (JBLU - Free Report) 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.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>