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Did Delta’s Guidance Cut Prompt a Losing Streak for Airlines?

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Nov. 20 2020, Updated 3:47 p.m. ET

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%.

Regional carriers weren’t spared, either. JetBlue Airways (JBLU) lost 3.3%, and Southwest Airlines (LUV) lost 2.0%. Spirit Airlines (SAVE) was the biggest loser, losing almost 4.5% on the same day.

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Year-to-date performance

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%.

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