Airline stocks suffer broad selloff as economic growth, oil price concerns prompt sector downgrade [MarketWatch]
American Airlines Group, Inc. (AAL)
Last american airlines group, inc. earnings: 4/30 07:30 am
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Source: MarketWatch
Airline stocks suffer broad selloff as economic growth, oil price concerns prompt sector downgrade Airline stocks were knocked lower Friday, with the sector on track to suffer the biggest one-day loss in nearly 3 years, as the recent drop in oil prices and concerns over a slowing economy acted as a one-two punch for the group. The NYSE Arca Airline Index XAL, -5.53% slid 5.1% toward a fourth-straight decline. Friday's loss was headed for the biggest one-day loss since Feb. 26, 2016. Crude futures CLF9, +1.98% surged 2.4% Friday, as OPEC and its allies reached a deal to cut production, but has declined 22% over the past three months. Lower oil prices lowers fuel costs for air carriers, but it also leads to undisciplined capacity growth that could hurt unit revenue performance. Analyst Hunter Keay at Wolfe Research downgraded the airline sector, saying that while a recession and lower oil are both "toxic" for air carriers, "we trust airlines to react better to a recession that we
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AAL
Earnings
- 1/25/24 - Miss
AAL
Sec Filings
- 4/11/24 - Form PRE
- 3/12/24 - Form 8-K
- 3/5/24 - Form 8-K
- AAL's page on the SEC website