Discount Airlines Tap Stock Market as Investors Bet on Travel Recovery Discount Airlines Tap Stock Market as Investors Bet on Travel Recovery
Frontier Airlines, Sun Country raise hundreds of millions in IPOs a year after the Covid-19 pandemic crushed air travel
published : 3 Apr 2021 at 11:43
14 A United Airlines Boeing 737 MAX airliner on the ramp at Renton airport adjacent to the Boeing factory in Renton, Washington. United Airlines announced on April 1 it will immediately start hiring pilots, beginning with a group of 300, to be ready to meet growing demand for air travel. (Photo: AFP)
As air travel shows more signs of rebounding from its pandemic lows, airlines that focus on offering cheap fares to leisure travelers are cashing in on the stock market.
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Three Southwest executives and other airline insiders sell shares amid February stock rally
The executives’ insider sales made up 19% of the February total for airlines.
A Southwest Airlines flight takes off at Dallas Love Field on Thursday, Jan. 7, 2021, in Dallas. (Smiley N. Pool/The Dallas Morning News)(Smiley N. Pool / Staff Photographer)
Airline executives and directors sold $49.9 million of stock in February, the most in three years, as industry shares posted a record rally fueled by a widening vaccination effort.
The top individual sellers were at Southwest Airlines Co. and Allegiant Travel Co., two leisure-focused carriers that are among analyst picks to benefit from a rebound in vacation travel as the coronavirus pandemic eases.
(March 6): Airline executives and directors sold US$49.9 million of stock in February, the most in three years, as industry shares posted a record rally fueled by a widening vaccination effort.
The top individual sellers were at Allegiant Travel Co. and Southwest Airlines Co., two leisure-focused carriers that are among analyst picks to benefit from a rebound in vacation travel as the coronavirus pandemic eases. Executives from Delta Air Lines Inc. and Mesa Air Group Inc. also sold significant holdings, according to data from InsiderInsights.com, which analyzes such transactions.
The insider sales increased as investors bet that vaccine campaigns would gain steam and improve the prospects for a travel rebound. Airlines got hammered last year by an unprecedented drop in demand for flights. Continued stock gains are far from guaranteed this year, as the industry’s recovery remains shrouded in uncertainty and the slump in lucrative corporate and international trips is expected to dr