Airline ETF hits a new high as positive trends continue

|By:, SA News Editor

The U.S. Global Jets ETF (NYSEARCA:JETS) is up 2.30% on the day and trades at its highest level ever.

Airline stocks making solid gains today include Spirit Airlines (SAVE +3.5%), Delta Air Lines (DAL +3.3%), Alaska Air Group (ALK +2.7%), United Continental (UAL +2.7%), SkyWest (SKYW +6%) and JetBlue (JBLU +2.9%).

What to watch: U.S. carriers have peeled back on fuel hedging this year in a gamble that oil prices will stay low. Bloomberg reports that American Airlines Group (AAL +2.4%), Delta and United have no fuel hedges in place for 2017. JetBlue is slightly hedged for this year, while Southwest (LUV +2%) is over 50% hedged for the next two years.