A quick look at the major airlines yields a sea of red:
- Southwest (LUV) – Down 9.85% ahead of 12:30 earnings call today.
- Spirit Airlines (SAVE) – Down 3.69% on continued fallout from weak guidance.
- United Continental (UAL) – Down 2.48%, being dragged down by peers.
- Delta (DAL) – Down 2.81%, also being hit by weak peer performance.
- American Airlines (AAL) – Off 2.62%
The list of declining airliners goes on and on. Investors continue to sell the airline sector, and JETS is paying the price.
JETS has now fallen 9.35% year-to-date, badly underperforming the S&P 500, which has gained 6.22%. JETS is the largest airline ETF, boasting close to $50 million in assets.