Airline stocks soar as Americans get ready to travel again
'The leisure rebound is real'
US airline stocks had an exceptionally strong week last week on rising hopes that summer travel would be better than originally feared.The nation's four major airlines, which had lost between 40% and 68% of their value year-to-date through the end of May, all posted solid gains last week, including a 77% jump at industry leader American Airlines (AAL) and a 19% gain at Southwest (LUV).
US airline stocks had an exceptionally strong week last week on rising hopes that summer travel would be better than originally feared.The nation's four major airlines, which had lost between 40% and 68% of their value year-to-date through the end of May, all posted solid gains last week, including a 77% jump at industry leader American Airlines (AAL) and a 19% gain at Southwest (LUV).Airline stocks were up again Monday after Bank of America raised its recommendation on two smaller airlines — JetBlue (JBLU), to neutral from sell, and Alaska Air (ALK), to buy from neutral. Most of the airline stocks were up between 5% and 11% in midday trading Monday.