The International Air Transport Association (IATA) expects big profits for the year
Airline stocks are always in focus as summer travel season picks up. Even more so after the International Air Transport Association (IATA) now expects the industry to generate a net profit of $30.5 billion in 2024, compared with $25.7 billion estimated in December last year. With these bullish projections in mind, here are three airline stocks investors could place bets on.
Travel staple Delta Air Lines, Inc. (NYSE:DAL) stock is down 2.2% to trade at $49.65 at last glance, but relies on support from its 60-day moving average, which has remained in place for most of 2024. The shares have risen more than 197% over the past 12 months and sport a 77.1% year-to-date lead after surging to a May 13, four-year high of $179.70.
Last seen down 0.5% to trade at $41.73, Alaska Air Group, Inc. (NYSE:ALK) is now running into overhead pressure at the 40-day moving average, which emerged in late May. The $44.50 level acted as a ceiling last month as well, after shares pulled back from this year’s current peak above $46. ALK still boasts a 6.7% lead in 2024 despite negative attention after a section of a Boeing (BA) 737 MAX jet blew out mid-flight.
Lesser known SkyWest Inc (NASDAQ:SKYW) is another option for those looking to get in on the airline sector. SKYW is up 0.9% to trade at $80.10, and earlier hit a fresh record high of $84.10, following a price-target hike from TD Cowen to $95 from $85. The security is on track for its third-straight gain and sports a 139.5% year-over-year lead