Airline stocks suffer broad selloff as surge in delta variant stokes fears of potential travel restrictions

Airline stocks were suffering a broad selloff ahead of Monday's open, amid a big drop in the broader stock market and as a surge of the delta variant of the coronavirus that causes COVID-19 increases fears of potential travel restrictions. The U.S. Global Jets ETF /zigman2/quotes/207744796/composite JETS +1.05% sank 3.6% in premarket trading, putting it on track for a sixth-straight daily decline, and to extend a seven-week losing streak through Friday in which the ETF has tumbled 16.5%. Among the ETF's components, shares of American Airlines Group Inc. /zigman2/quotes/209207041/composite AAL +1.13% slumped 5.2% premarket, after sinking 18.6% amid a six-week losing streak; United Airlines Holdings Inc. /zigman2/quotes/205037281/composite UAL +1.56% slid 5.1%, after tumbling 21.1% amid a 7-week losing streak; and Delta Air Lines Inc. /zigman2/quotes/200327741/composite DAL +1.82% dropped 4.2%, after losing 13.8% amid a 5-week losing streak. Elsewhere, shares of Southwest Airlines Co. /zigman2/quotes/201071949/composite LUV +0.85% gave up 3.8% premarket, JetBlue Airways Corp. /zigman2/quotes/207639051/composite JBLU +1.91% declined 5.4% and Spirit Airlines Inc. /zigman2/quotes/205782179/composite SAVE +0.66% fell 5.3%. The selloff in air carrier stocks comes as futures /zigman2/quotes/209948968/delayed ES00 -0.31% for the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.46% dropped 1.3%.

/zigman2/quotes/207744796/composite

Add to watchlist JETS

U.S. Global Jets ETF

US : U.S.: NYSE Arca

$ 20.20

+0.21 +1.05%

Volume: 1.98M

Jan. 31, 2023 4:00p

/zigman2/quotes/209207041/composite

Add to watchlist AAL

American Airlines Group Inc.

US : U.S.: Nasdaq

$ 16.14

+0.18 +1.13%

Volume: 19.87M

Jan. 31, 2023 4:00p

P/E Ratio

552.74

Dividend Yield

0.00%

Market Cap

$10.37 billion

Rev. per Employee

$396,848

/zigman2/quotes/205037281/composite

Add to watchlist UAL

United Airlines Holdings Inc.

US : U.S.: Nasdaq

$ 48.96

+0.75 +1.56%

Volume: 5.35M

Jan. 31, 2023 4:00p

P/E Ratio

22.57

Dividend Yield

N/A

Market Cap

$15.76 billion

Rev. per Employee

$534,542

/zigman2/quotes/200327741/composite

Add to watchlist DAL

Delta Air Lines Inc.

US : U.S.: NYSE

$ 39.10

+0.70 +1.82%

Volume: 7.92M

Jan. 31, 2023 4:00p

P/E Ratio

19.12

Dividend Yield

0.00%

Market Cap

$24.62 billion

Rev. per Employee

$609,422

/zigman2/quotes/201071949/composite

Add to watchlist LUV

Southwest Airlines Co.

US : U.S.: NYSE

$ 35.77

+0.30 +0.85%

Volume: 5.60M

Jan. 31, 2023 4:00p

P/E Ratio

45.26

Dividend Yield

2.01%

Market Cap

$21.06 billion

Rev. per Employee

$432,196

/zigman2/quotes/207639051/composite

Add to watchlist JBLU

JetBlue Airways Corp.

US : U.S.: Nasdaq

$ 8.00

+0.15 +1.91%

Volume: 7.77M

Jan. 31, 2023 4:00p

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

$2.54 billion

Rev. per Employee

N/A

/zigman2/quotes/205782179/composite

Add to watchlist SAVE

Spirit Airlines Inc.

US : U.S.: NYSE

$ 19.84

+0.13 +0.66%

Volume: 995,315

Jan. 31, 2023 4:00p

P/E Ratio

N/A

Dividend Yield

0.00%

Market Cap

$2.15 billion

Rev. per Employee

$506,042

/zigman2/quotes/209948968/delayed

Add to watchlist ES00

E-Mini S&P 500 Future Continuous Contract

US : U.S.: CME

$ 4,077.50

-12.50 -0.31%

Volume: 30,507

Jan. 31, 2023 8:34p

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Add to watchlist SPX

S&P 500 Index

US : S&P US

4,076.60

+58.83 +1.46%

Volume: 0.00

Jan. 31, 2023 5:00p