- Airline stocks are back in favor today with investors, driven higher by a positive read from American Airlines management.
- American Airlines (AAL +3.2%) says it expects Q3 unit revenue to increase 1.5% to 2.5%, despite the impact during the period from Hurricane Dorian. The prior unit revenue range from AAL was +1.0% to +3.0%.
- The company continues to expect Q3 cost per available seat mile (ex-fuel) to be up approximately 4.0% to 6.0%.
- The airline sector is also reacting to a price target bump from Goldman Sachs on United Airlines (UAL +2.7%) to $128 from $114.
- Also in the mix, the latest U.S.-China trade news has steered toward the positive side today.
- Delta Air Line (DAL +1.3%), Alaska Air (ALK +2.1%), Hawaiian Holdings (HA +1.4%), Allegiant Travel (ALGT +1.3%), Southwest Airlines (LUV +0.8%) and SkyWest (SKYW +0.8%) are all higher on the day.