Airline stocks turned mostly higher Monday, after U.S. Transportation Security Administration (TSA) showed that travel demand rebounded, to snap a two-week pullback. The U.S. Global Jets ETF (JETS) rose 0.8% in afternoon trading, reversing an earlier loss of as much as 1.8%. Among the more active air carriers, shares of American Airlines Group Inc. (AAL) rose 0.1%, United Airliens Holdings Inc. (UAL) climbed 2.0%, Delta Air Lines Inc. (DAL) advanced 1.5%, Spirit Airlines Inc. (SAVE) slipped 1.9%, JetBlue Airways Corp. (JBLU) lost 2.5% and Southwest Airlines Co. (LUV) tacked on 2.6%. The daily average number of travelers going through TSA checkpoints for the week ended Sunday was 686,360, according to a MarketWatch analysis of TSA data, up from 660,931 for the week ended July 26, which was down from 664,022 for the week ended July 19. Before that, the daily average had increased for 12 straight weeks since bottoming at 97,799 for the week ended April 19. And on Sunday alone, 799,681 travelers went through TSA checkpoints, the most in one day since March 17, which was soon after the COVID-19 pandemic-related lockdowns began. The Jets ETF has tumbled 50.6% year to date, while the S&P 500 has edged up 2.2%.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
August 03, 2020 14:40 ET (18:40 GMT)
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