image credit: Pexels

Airline stocks set for record weekly gains as passengers start returning

June 5, 2020


Airline stocks are headed for their biggest weekly gains ever on hopes of a rebound in the U.S. economy and air travel demand.

The NYSE Arca Airline Index, which tracks 16 airlines, mostly in the U.S., is up nearly 50% this week — its biggest weekly percentage gain ever.

Airline stocks soared in morning trading. American Airlines jumped 23%, United Airlines was trading more than 15% higher and Delta Air Lines was up 8%.

Read More on CNBC