Delta stock falls
Delta Air Lines (DAL) stock fell 3.5% after its traffic release on September 5, 2017. The negativity has spread to other players. Legacy peers American Airlines (AAL) and United Continental (UAL) lost 3.1% and 2.1%, respectively, and niche legacy player Alaska Air Group (ALK) lost 2.8%.
Airlines, which were having a magnificent run before June, have slipped into the red zone. Southwest Airlines is an exception, having gained 2.6% YTD (year-to-date) as of September 5, 2017.
As of September 5, American Airlines had lost 5.9%, Delta Air Lines had lost 6.8%, JetBlue had lost 14.5%, United Continental had lost 16.2%, and Alaska Air Group had lost 17.8% YTD. Spirit Airlines underperformed all other airline stocks, falling 43.8%.
The broader market, tracked by the SPDR S&P 500 ETF (SPY), had gained 10.1% YTD as of September 5, 2017. The Dow Jones US Airlines Index (DJUSAR) had fallen 8.8%.