Airline stocks aren’t doing so hot on Tuesday and it may have something to do with a massive order from United Airlines (NASDAQ:UAL).
United Airlines has agreed to acquire 100 of Boeing’s (NYSE:BA) new 787 Dreamliners. In addition to that, the agreement allows for it to acquire another 100 of the passenger jets from Boeing. This comes as it seeks to update its fleet and outmode Boeing 767 aircraft currently in use.
Unfortunately for investors, airline stocks aren’t bouncing back despite this news. It seems investors are concerned about the bullish growth plans that UAL has introduced. We saw something similar last week went traders sold shares of Southwest Airlines (NYSE:LUV) stock after the company reintroduced its dividend.
Airline stocks took a powerful beating during the pandemic with travel bans and restrictions due to Covid-19 lockdowns. While many investors are hoping for recovery, it seems there’s also a large contingent of investors that are simply done waiting on airline stocks to regain lost ground.
Let’s check out how airline stocks are doing today below!
Airline Stocks Down on Tuesday
- UAL stock starts us off with the airline company’s shares falling 6.6% as of Tuesday afternoon.
- LUV stock is next on our list with the budget travel company’s shares dropping 3.7% this afternoon.
- Delta Air Lines (NYSE:DAL) stock closes off our list with the company’s shares sinking 5.1% as of this writing.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.