Shares of airline companies surged in premarket trading Tuesday, amid growing optimism that air travel will resume shortly. The U.S. Global Jets ETF (JETS) shot up 8.0%, outpacing the gain in futures for the S&P 500 , which rose 1.9%. Among the more active airline stocks ahead of the open, shares of United Airlines Holdings Inc. (UAL) ran up 7.4%, American Airlines Group Inc. (AAL) jumped 7.1%, Delta Air Lines Inc. (DAL) climbed 7.1%, Southwest Airlines Co. (LUV) rallied 7.1%, JetBlue Airways (JBLU) gained 5.6% and Spirit Airlines Inc. (SAVE) hiked up 7.3%. The rally in travel stocks started in Europe, after a report that Germany-based travel operator TUI said it plans to resume flights ( ) at the end of July, and after Spain said it will lift the mandatory two-week quarantine ( ) for travelers arriving from overseas starting July 1. The optimism also comes after upbeat travelers data ( ) out of the U.S. ahead of the weekend, and as U.S. airlines started detailing safety plans ( ) to resume more flights and lure travelers.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
May 26, 2020 12:12 ET (16:12 GMT)
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