Shares of multiple airline stocks are making upward moves on Tuesday. This comes after strong sentiment is emerging from the overall sector about figures that point to a “return to normal” from the novel coronavirus pandemic.
As the crippling situation reaches it’s most promising point in almost a year, it seems like many areas of life are slowly coming back. And that is a good thing for airline stocks with plenty of pent-up demand among travelers ready to fly.
That said, a handful of names in the business are rising on Tuesday. What is specifically causing the gains? Let’s take a closer look.
- Delta Air Lines (NYSE:DAL) President Glen Hauenstein said during a Wolfe Research conference that the “pace of recovery has been faster than expected” for the company.
- United Airlines (NASDAQ:UAL) recently said that travel bookings for the summer are up 214% compared to 2020 levels. Additionally, the company added “more than 400 daily flights to its July schedule” and will be “increasing service to reopened European destinations” to add more options to satisfy the pent-up demand.
- According to SeekingAlpha, American Airlines (NASDAQ:AAL) said “it is seeing more signs of business travel this year.”
- JetBlue Airways (NASDAQ:JBLU) said last week that it will begin serving flights from New York to London beginning in August. And CEO Robin Hayes told Bloomberg that initial ticket sales were “red hot.”
- Southwest Airlines (NYSE:LUV) also said a few days ago that booking patterns for June are looking “fairly typical” now. And the firm also mentioned that leisure fares for the month are beginning to look more like pre-pandemic levels.
All of these airline stocks were in the green as of Tuesday afternoon.
On the date of publication, Nick Clarkson did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Nick is a web editor at InvestorPlace.