U.S. airline stocks have taken two solid hits to share prices in the past two weeks. First the horrific killings in an Orlando, Florida, nightclub and then the unexpected vote that could lead to Britain leaving the European Union. The first raised fears among consumers that air travel would be more dangerous and the second called into question the open skies agreements between the United States and European countries.
U.S. carriers either have partnership arrangements with U.K.-based carriers or investments in some airlines. American Airlines Group Inc. (NASDAQ: AAL), for example, partners with British Airways and Delta Air Lines Co. (NYSE: DAL) has a significant investment in Virgin Atlantic.
United Continental Holdings Inc. (NYSE: UAL) has a large number of flights to the United Kingdom and Alaska Air Group Inc. (NYSE: ALK) is another British Airways partner.
One positive effect for U.S. carriers may be in the falling pound which increases the purchasing power of U.S. dollars for Americans visiting Britain. If and when U.S. tourists take advantage of the stronger dollar remains to be seen.
Here’s a quick recap of how several airlines stock were treated last Friday.
American posted a new 52-week low of $27.04 and closed at $27.05. The stock’s 52-week high is $47.09. American’s shares are down about 35% so far in 2016. Shares are down another 2% in Monday’s premarket.
United posted a new 52-week low of $41.04 on Friday and closed at $41.06. The stock’s 52-week high is $62.21 and shares are down more than 28% year to date. Shares traded down nearly 2% in the premarket Monday.
Alaska also dipped to a new 52-week low Friday of $56.29 on Friday before closing at $56.49. The stock’s 52-week high is $87.17 and shares have lost nearly 30% year to date. The stock traded down about 1% in Monday’s premarket session.
JetBlue Airways Corp. (NASDAQ: JBLU) posted a new 52-week low of $15.32 on Friday and closed at $15.46. The 52-week high is $27.36. Shares are down nearly 32% in 2016 and traded down about 1.1% in Monday’s premarket.
Delta closed at $35.18 Friday, down 8.2% for the day in a 52-week range of $34.61 to $52.77. Shares traded down about 2% in the premarket on Monday.
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