Displaying items by tag: united
Coronavirus will Cost Airlines $100 bn
We can finally put a number on it. Anecdotal evidence has shown that airlines and other travel companies are getting hammered. Now analysts have an estimate of just how much of a hit airlines are going to take. The answer is more than $100 bn of lost business because of coronavirus. The specific figure is $113 bn, a 4x increase in forecasted lost revenue from just two weeks ago. Big airlines like Delta, United, and Southwest have been cutting routes and flights left and right.
FINSUM: These stocks have gotten pummeled because of Coronavirus. When is the right time to buy in?
Which is the Best Airline Stock to Own?
The airline market has not been doing very well this year. Fuel prices and expanding capacity have weighed on the stocks. United is up big, but the rest of the pack is either in the red or up single digit percentages. Recently, there has been clear winners and losers, with United Continental, Delta, and Spirit being outperformers, and American, Alaska, and Southwest being laggards.
FINSUM: Airlines are an interesting sector, as each has its own unique characteristics, but they are all subject to similar woes. American Airlines has been a big loser this year, but some analysts think it could be the biggest gainer in the medium term.