This is what flying during the pandemic looks like: Las Vegas airport adds PPE vending machines
Americans took a small and cautious step to return to the skies this weekend, the start of the traditional summer travel season.
The industrial sector includes companies that produce machinery, equipment, and supplies that are used in construction and manufacturing, as well as providing related services. Well-known companies in this group include Honeywell International Inc. (HON), Lockheed Martin Corp. (LMT), and 3M Co. (MMM). The industrial sector also includes companies that provide air transportation services such as American Airlines Group Inc. (AAL).
To restore confidence among fliers in the current scenario, United Airlines (UAL) launches United CleanPlus program.
The U.S. Global Jets ETF is soaring amid investor optimism about states reopening their economies. Yahoo Finance's Akiko Fujita and ETF Trends CEO Tom Lydon discuss.
David Merkel, the longtime investor behind the Aleph Blog, still holds a stake in Berkshire Hathaway, but it’s smaller than it used to be—and it could get even smaller if the recent trend holds.
American Airlines plans to cut its management and support staff by about 30% to slash costs as the coronavirus pandemic has severely curtailed air travel. The airline must "plan for operating a smaller airline for the foreseeable future," Executive Vice President of People and Global Engagement Elise Eberwein said in a letter to employees, Reuters reported. Once American reduces its management ranks, the airline will turn to frontline employees including flight attendants and pilots, who will receive fresh voluntary leave and early retirement options in June with the goal of avoiding involuntary furloughs, Reuters reported.
With stay-at-home orders easing across the United States, airlines have pointed to slight improvements in air travel demand that had virtually disappeared in April. "Demand could be down 30% or it could be down 70%," Kirby said. Under the changes, Jon Roitman, currently United's senior vice president of airport and network operations, will replace Greg Hart as chief operations officer effective June 1.
Shares of airline companies surged in premarket trading Tuesday, amid growing optimism that air travel will resume shortly. The U.S. Global Jets ETF shot up 8.0%, outpacing the gain in futures for the S&P 500 , which rose 1.9%. Among the more active airline stocks ahead of the open, shares of United Airlines Holdings Inc. ran up 7.4%, American Airlines Group Inc. jumped 7.1%, Delta Air Lines Inc. climbed 7.1%, Southwest Airlines Co. rallied 7.1%, JetBlue Airways gained 5.6% and Spirit Airlines Inc. hiked up 7.3%. The rally in travel stocks started in Europe, after a report that Germany-based travel operator TUI said it plans to resume flights at the end of July, and after Spain said it will lift the mandatory two-week quarantine for travelers arriving from overseas starting July 1. The optimism also comes after upbeat travelers data out of the U.S. ahead of the weekend, and as U.S. airlines started detailing safety plans to resume more flights and lure travelers.
Shares of airlines took flight Tuesday, amid growing investor optimism over the easing of COVID-19 related lockdown restrictions and as government data showed a continued increase in air travelers.
Shares of General Electric Corp. fell in very active trading to a 29-year low on Wednesday, as sentiment toward the airline industry continued to sour with the impact on travel from COVID-19 pandemic expected to linger for years to come.
United surprises Wall Street on Thursday with a narrower-than-expected first-quarter loss.
Yahoo Finance’s Emily McCormick joins Akiko Fujita to discuss the outlook on air travel as states begin to reopen.
U.S. stocks closed sharply higher Tuesday as markets focused on evidence of the global economy reemerging from COVID-19 shutdowns and some signs of progress on the race for a vaccine. The Dow Jones Industrial Average rose 530 points, or 2.2% to close around 24,995 and the S&P 500 index gained 36 points, or 1.2% to finish the session near 2,992. The Nasdaq Composite index rose 16 points, or 0.2%, to close at about 9,340. Sentiment was buoyed by news that Novavax Inc. had started human trials of a COVID-19 vaccine. Also fueling gains were recent data showing U.S. air travel has risen and evidence that restaurants and freight trucking were seeing greater demand. Airline stocks surged Tuesday, with the US Global JETS ETF gaining 11.2% on the day, led by shares of Delta Air Lines Inc. , United Airlines Holdings, Inc. and American Airlines Holdings Inc. , all of which posted double-digit gains. The session was also colored by evidence of a rotation out of what has been a defensive technology sector into cyclical names that benefit during economic recoveries. Financial stocks posted the biggest gains on a sector basis, with the Financial Select Sector SPDR Fund rising 5.3% on the day.
J. Scott Kirby, Chief Executive Officer, today issued the following message to nearly 100,000 United Airlines (NASDAQ: UAL) employees:
Airlines' improved cash flow and cost-control measures helped them with enough capital to tide over the crisis, and now with improved traffic, things are certainly looking up for airliners.
With easing travel restrictions, U.S. airlines are seeing modest increases in passenger numbers.
Warren Buffett shed some light on why Berkshire Hathaway dumped a chunk of his holdings in the airline sector early last month.
The likes of Delta (DAL) and United Airlines (UAL) are looking at ways to promote cleanliness in a bid to encourage passengers to resume flying.
American Airlines (AAL) is seeing modest increases in travel demand; does not think any airline would go out of business due to coronavirus concerns.
Tuesday morning brought a big upward move to the stock market, largely in response to growing optimism about the reopening of the U.S. economy as fears about the coronavirus pandemic seem to be subsiding. The Nasdaq Composite (NASDAQINDEX: ^IXIC) lagged somewhat behind broader market benchmarks, but it was still up 0.7% shortly before noon EDT. The Nasdaq 100 Index of larger Nasdaq-listed stocks was up a more modest 0.4%.
Stocks surged Tuesday as positive sentiment over the reopening economy and vaccine development lifted spirits. Sales of new homes trounced expectations in April.
United Airlines delivered 7,500 face coverings over the past week to front line employees at San Francisco International Airport and the airline's San Francisco Maintenance Base that were made from 12,284 pounds of uniforms United upcycled. United worked with upcycling partner, Looptworks to produce masks that would supplement the supply of face coverings that the airline already provides all employees and customers. Download images and broll here.
Shares of airlines pulled back Thursday, after a big rally over the previous two sessions, but continue to outperform the broader stock market over the past month as government data on airport travelers continues to show steady improvement. The Transportation Security Administration said the number of travelers going through TSA checkpoints was 261,170 on Wednesday, down 88.5% from a year ago. That marked the seventh-straight day that the number of travelers were down less than 90%, after a 56-day run of being down over 90% was snapped on May 21. The daily average for the first four days of the week starting Sunday was 283,558, up from 262,732 the previous week ended Saturday, and is set to increase for the seventh-straight week, since hitting a low of 95,674 travelers a day during the week ended Saturday, April 18. Meanwhile, the U.S. Global Jets ETF fell 1.6% in midday trading, after soaring 14.9% over the past two days. Among the ETF's most active U.S.-based components, shares of American Airlines Group Inc. fell 4.9%, United Airlines Holdings Inc. declined 4.2%, Delta Air Lines Inc. dropped 2.4%, Spirit Airlines Inc. shed 2.4% and Southwest Airlines Co. slipped 0.1%. The Jets ETF has now gained 9.6% since the daily average of travelers per week bottomed, while the S&P 500 has gained 6.2%.
Shares of airlines took a dive Monday, after Warren Buffett said he sold off his large stakes in four air carriers, and after Air Canada gave a downbeat assessment of the overall industry amid the coronavirus pandemic.
United Airlines (UAL) COO is stepping down to focus on more important medium and long-term issues, including cost structure changes.
Moody's Investors Service ("Moody's") withdrew the Ba1 ratings it assigned to United Airlines, Inc.'s proposed $2.25 billion of senior secured notes due 2023 and 2025. United had intended to use the proceeds to retire the $2 billion credit facility the company entered on March 9, 2020 and the remainder for general corporate purposes. Cancelling the transaction does not affect Moody's Ba2 corporate family or any other of the ratings, including enhanced equipment trust certificate ratings, assigned to United Airlines Holdings, Inc. or United Airlines, Inc., all of which remain on review for downgrade.
A San Francisco doctor returning from volunteering at a New York City hospital to help fight the coronavirus says he was forced to endure a packed flight on United Airlines — despite the carrier’s promise to enforce social distancing.