Airline stocks in broad rally as travel demand reaches 5-month high
Shares of air carriers were broadly higher Monday, after data showing that travel demand reached over the weekend the highest level seen since mid-March. The U.S. Global Jets ETF rallied 1.4% in morning trading, with all of its U.S.-listed components gaining ground. Among the more-active components, shares of American Airlines Group Inc. surged 2.5%, United Airlines Holdings Inc. advanded 2.1%, Delta Air Lines Inc. rallied 0.9%, Southwest Airlines Co. tacked on 0.9% and JetBlue Airways Corp. climbed 1.6%. Data from the U.S. Transportation Security Administration showed that travelers going through TSA checkpoints rose to 831,789 on Sunday, up from 799,861 the week before, and the most since the March 17 total of 953,699. The total was still down 68.6% from a year ago, but that's an improvement from a decline of 70.3% a week ago. At the worst level, only 87,534 travels went through TSA checkpoints on April 14, which was down 96.0% from a year ago. The Jets ETF has run up 24.1% over the past three months, while the S&P 500 has gained 14.7%.
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