27 Dec 2021
Airline Shares Plummet Following Numerous Flight Cancellations over Christmas Weekend
The Index Today
Stocks of many American airline companies have dipped following thousands of COVID-related flight cancellations over the Christmas weekend. This led to poorer trades during the pre-market session on Monday.
The increasing number of Omicron infections among pilots, aircraft crew, and the people in general spurred numerous flight cancellations over the holiday weekend which is also peak travel time for many across the United States and around the world at large.
While Delta Air and American Airlines experienced a drop by 2% each, United Airlines’ shares were down by 3%. Southwest Airlines dipped by 1.7% and Spirit Airlines saw a 0.1% decrease in their stocks.
This comes as a total of 997 flights faced cancellations on Christmas day in addition to the 700 ones that were revoked the day before.
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