Air traffic controllers have now missed a second paycheck
The longest government shutdown in history could soon come to an end, but the airline sector is still suffering its impact, with many flights delayed or canceled. Air traffic controllers have now missed a second paycheck and the Trump administration ordered airlines to cut flights at 40 U.S. airports on Friday. While flights are already down 5.5%, that figure could grow to 10% by the end of the week.
Airline stocks are having a negative reaction to today’s turmoil. American Airlines (NASDAQ:AAL) shares were last seen down 2% to trade at $13.37 at last glance, but earlier hit their highest level since March on a bounce off the supportive $12.50 region. So far this year, AAL has shed 23.1%.
Delta Air Lines Inc (NYSE:DAL) stock was last seen trading flat near $58.87. The equity still sports a 15.7% six-month lead, though, and a floor at the $55 level, which held during last week’s retest. This area also captured a pullback back in early October. Also floating below as support is the 100-day moving average.
Lastly, United Airlines Holdings Inc (NASDAQ:UAL) stock is down 0.4% to trade at $97.03 at last check. The $90 level has been a solid support level for the shares since October, containing a pullback from a September rally to their highest level since February. In the last six months, UAL has added over 23%.