Why Airlines Are Down Today, but Spirit Is Flying in the Opposite Direction

·3 min read

Stocks are under pressure on Thursday due to continued concerns about the impact of higher inflation rates on the economy, and airlines, as is typically the case, were down more than the broader markets. Shares of United Airlines Holdings (NASDAQ: UAL), American Airlines Group (NASDAQ: AAL), Delta Air Lines (NYSE: DAL), and JetBlue Airways (NASDAQ: JBLU) all traded down as much as 5%. One notable exception is Spirit Airlines (NYSE: SAVE), the subject of a bidding war between two rival would-be buyers.