Weak day for airline stocks after Delta warns on global capacity

|By:, SA News Editor

Airline stocks are showing weakness after sector leader Delta disappoints with its report on June PRASM.

The sector was due for a little bit of a blowoff, according to many industry insiders. Delta's stance that global capacity is on the rise provided the spark.

Decliners: United Continental (UAL) -5.4%, Delta Air Lines (DAL) -4.7%, American Airlines Group (AAL) -3.0%, Allegiant Travel (ALGT) -2.9%, Hawaiian Holdings (HA) -2.2%, JetBlue Airways (JBLU) -2.0%, Alaska Air Group (ALK) -2.0%.