Why Airline Shares Flew Through Turbulence Today
It's been a tough year for airline investors, with the stocks rocked earlier in the year by the COVID-19 pandemic and swinging higher and lower in the months that have followed on news about the pandemic and its economic impact. The entire sector was in the green as of 2:30 p.m. EDT, but at various points in the day Spirit Airlines (NYSE: SAVE) and United Airlines Holdings (NASDAQ: UAL) were down more than 5% and both United and American Airlines Group (NASDAQ: AAL) climbed more than 5%. Half of that aid came in the form of payroll support, and was conditioned on the airlines doing no involuntary separations before Sept. 30.
