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Value over anxiety in the airline sector

  • Airline stocks are higher today after a solid U.S. jobs report and with oil prices swinging lower again.
  • This summer the sector has seen bouncy trading as concerns over unit revenue, sensitivity to terrorist incidents, and new Zika outbreaks have influenced sentiment.
  • The wave of anxiety coincides with a period where profit has been increasing at some carriers to push forward price-earnings ratios to single digits. Investors focused on value now have United at a 6.9 forward PE, Delta at 6.2, American at 6.8, JetBlue at 8.5, Southwest at 9.3, and SkyWest at 9.7 to mull over.
  • Today's rally includes United Continental (UAL +4.2%), SkyWest (SKYW +3.5%), Allegiant Travel (ALGT +3.3%), Southwest Airlines (LUV +2.9%), Delta Air Lines (DAL +2.9%), Hawaiian Holdings (HA +2.2%), JetBlue (JBLU +1.8%), American Airlines Group (AAL +1.6%), Alaska Air Group (ALK +1.7%), and Spirit Airlines (SAVE +1.4%).
  • The U.S. Global Jets ETF (NYSEARCA:JETS) is up 2.11% on the day.

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UAL--
United Airlines Holdings, Inc.
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