Business & Finance
US Airline Stocks Erase Pandemic-Era Losses as Oil Prices Ease
Key Points
US Airline Stocks Erase Pandemic-Era Losses as Oil Prices Ease A popular gauge of the US airline industry has finally recovered from pandemic-era losses after six years, as progress on a peace deal between US and Iran pushed oil prices lower and eased the pressure on carriers’ profitability. The US Global Jets ETF (JETS), a major proxy for the biggest airline stocks, closed up 4.2% Wednesday, at its highest level since December 2018, and continued to rise on Thursday. This year, JETS is...
US Airline Stocks Erase Pandemic-Era Losses as Oil Prices Ease
A popular gauge of the US airline industry has finally recovered from pandemic-era losses after six years, as progress on a peace deal between US and Iran pushed oil prices lower and eased the pressure on carriers’ profitability.
The US Global Jets ETF (JETS), a major proxy for the biggest airline stocks, closed up 4.2% Wednesday, at its highest level since December 2018, and continued to rise on Thursday. This year, JETS is outpacing the S&P 500’s 7.9% gain with a 20% jump. Yet, the index has barely gone anywhere since the end of 2019 — eking out a mere 3% gain as of Wednesday’s close — while the S&P 500 Index has soared almost 128% over the same period.