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Airline stocks outperform, amid hopes U.S. will lift the EU travel ban 'soon'

The airline sector fell, but outperformed amid a broader-market selloff, after reports that President Biden will soon lift the travel ban on Europeans, which was put in place early in the COVID-19 pandemic by former president Donald Trump. Stavros Lambrinidis, the European Union Ambassador to the U.S., tweeted Monday, "Hope there'll be a positive announcement soon." The U.S. Global Jets ETF (JETS) slipped 0.6%, while the S&P 500 shed 1.4%. Among the more-active U.S. air carriers, shares of American Airlines Group Inc. (AAL) rose 0.9%, Delta Air Lines Inc. (DAL) eased 0.5% and United Airlines Holdings Inc. (UAL) slipped 0.5%. The Biden administration agreed with its European Union officials to lift travel restrictions for vaccinated citizens, Politico reported, citing three senior EU officials.

-Tomi Kilgore

 

(END) Dow Jones Newswires

09-20-21 1006ET

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