Airline stocks tumble amid concerns over rebounding COVID cases

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 Airline stocks tumble amid concerns over rebounding COVID cases
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Summary

  • Stocks of Boeing, Delta Air Lines, American Airlines, United Airlines and Southwest Airlines fell on Monday morning.
  • The CDC said seven day average of daily new COVID cases jumped almost 70 percent last week.
  • Investors are concerned that potential travel restrictions could delay the pandemic recovery.

Airline stocks declined on Monday’s trading as investors sold their shares amid concerns over the growing number of COVID-19 infections after weeks of decline.

Last week, the U.S. CDC reported that the seven day average of daily new COVID cases jumped almost 70 percent to 26,306 from the prior week figure.

Airline companies, which saw their operations come to a standstill last year following the coronavirus outbreak, have been gradually regaining their lost ground as air traffic recovered significantly in the past months with the fall in COVID cases and increasing vaccination.

However, with the emergence of the delta variant, which is more transmissible than other COVID variants, investors seem to be worried about potential travel restrictions that can delay the recovery from the pandemic.

READ MORE: COVID-19: What is Delta plus? Is it more dangerous than other strains?

Here we explore how major airline stocks in the U.S. markets are performing:

The Boeing Company (NYSE: BA)

Boeing has a market cap of US$120.10 billion. The stock traded in the range of US$141.58 to US$278.57 in the last one year period. Its stock lost 4 percent year to date.

As of 12:12 pm ET, Boeing was trading at US$206.14, down 5.33 percent.

Source: Pixabay

American Airlines Group Inc. (NASDAQ: AAL)

American Airlines market cap totals US$12.13 billion. In the last one year, the stock price was between US$10.63 and US$26.09. The shares gained 20 percent this year.

As of 12:12 pm ET, American Airlines shares were trading at US$19.11, down 3.41 percent.

United Airlines Holdings, Inc. (NASDAQ: UAL)

The Chicago-based company has a market capitalization of US$14.07 billion. The stock price remains flat year to date while the shares price ranged between US$30.32 and US$63.70 in the 52-week period.

As of 12:13 pm ET, United Airlines stock was trading at US$44.29, down 3.74 percent.

Southwest Airlines Co. (NYSE: LUV)

Southwest Airlines has a market cap of US$28.62 billion. Its stock grew 3.6 percent this year. The share price was between US$30.24 and US$64.75 in the last one year.

As of 12:13 pm ET, Southwest Airlines fell 2.11 percent to US$48.85

READ MORE: Delta Air Lines (NYSE: DAL) swings to profit in second quarter

Delta Air Lines, Inc. (NYSE: DAL)

Delta Air has a market cap of US$24.5 billion. Its stock declined 4.7 percent this year. The share price fluctuated between US$24.38 and US$52.28 in the last one year.

As of 12:13 pm ET, Delta Air stock was trading at US$38.87, down 2.97 percent.

Please note: The above constitutes a preliminary view and any interest in stocks/cryptocurrencies should be evaluated further from an investment point of view.

The reference data in this article has been partly sourced from Refinitiv.

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