“A record year for U.S. travel is pushing airline stocks to a strong year-over-year gain.”, — write: epravda.com.ua
A record year for U.S. travel is pushing airline stocks to a strong year-over-year gain. Bloomberg writes about it. The S&P Supercomposite Airlines Index has jumped 60% in 2024, compared with a 27% gain for the S&P 500. It’s the best year for the industry index since 2014, when it also last beat the broader market by that much. Shares of United Airlines Holdings Inc., the index’s leading airline, are up 144% this year, making it the fourth-biggest performer among the S&P 500.Advertisement: Americans are flying more than ever before, and 2024 has the 10 biggest days, according to the U.S. Department of Transportation trips throughout the history of the Transportation Security Administration. Meanwhile, the US’s largest exchange-traded fund, the $1.1 billion Global Jets ETF, linked to international air travel, is showing a sharp increase in short-term interest.